Business

NBM foreign currency reserve drops in february 2009 by us$139.39 million

The foreign currency reserve of the National Bank of Moldova (NBM) declined by US$139.39 million (9.3%) in February 2009 and by the beginning of March it constituted US$1.37 billion. Such are the NBM data.
INFOTAG, 9 March 2009, 18:37

Chisinau, March 9 ( INFOTAG ). According to the National Bank of Moldova (NBM), the decrease of the NBM foreign currency reserve was caused by interventions in the amount of US$124.71 million at the internal foreign currency market in the form of sales.

About US$15.2 million were used for servicing Moldova's external debt and US$4.48 million - for effecting other payments. Because of the decrease of the exchange rate of the Moldovan Leu against the U. S. Dollar, the NBM foreign currency reserve decreased in the Dollar terms by US$2.39 million.

The NBM experts added that the profit from the management of its foreign currency reserve in the amount of US$3.61 million and attracting foreign currency in the amount of US$3.52 million facilitated the increase of the reserve assets. Extra incomes from other sources constituted US$0.26 million.

As of January 2008 the NBM foreign currency reserve dropped by US$307.4 million (18.3%). In 2007 the foreign currency showed a record-breaking 72%-increase and constituted US$1.33 million in the final end. In 2006 the NBM foreign currency reserve was equal to US$775.29 million, in 2005 - US$597.4 million, in 2004 - US$470.3 million, in 2003 - US$268.5 million.

 

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