Banca Naţională a României

At end-July 2007, foreign exchange reserves of the National Bank of Romania amounted to EUR 22,437.6 million.

The EUR 437.2 million increase in the month under review owed to the following:

• EUR 1,015.6 million worth of inflows from EU funds (EUR 185 million), incomes from international reserve management, the rise in international prices of government bonds held in the NBR portfolio, the change in the foreign-exchange reserve requirements of commercial banks, a.s.o.;
• EUR 578.4 million worth of outflows consisting in principal repayments and interest payments on public and publicly guaranteed external debt, the change in foreign-exchange reserve requirements of commercial banks, a.s.o.

The gold stock stayed at 104.7 tonnes. Following the developments in the world price of gold, its value rose to EUR 1,637.7 million; as a result, the international reserves of the National Bank of Romania (foreign exchange and gold) exceeded EUR 24.07 billion.

By end-2007, payments due on public and publicly guaranteed external debt amount to EUR 386 million.