bne IntelliNews – Romania’s foreign exchange reserves up 8.2% in December-January

The foreign exchange reserves of the National Bank of Romania (BNR) increased by 2.6 billion euros in January to reach 43.1 billion euros (including 3.4 billion SDRs), according to the National Bank of Romania (BNR). In December-January, the increase was 3.8 billion euros or 8.2%.

The increase in January was driven by transfers from the European Commission under the Resilience Facility (loans of €1.94 billion, with the Ministry of Finance as final beneficiary) and the net proceeds of €2.1 billion from the two Eurobonds issued during the month. In December, Romania also received €1.84 billion from the European Commission under the Resilience Facility.

In total, in January alone, including other transfers from the European Commission, entries into the BNR’s coffers amounted to €5.15. Separately, outflows measured just €2.52 billion, still a significant amount given the external debt service of €152 million.

The stock of gold remained stable at 103.6 tonnes at the end of January. In line with the price of gold, its value amounted to 5.35 billion euros.

As of January 31, 2022, Romania’s international reserves (foreign currencies and gold) amounted to €48.45 billion.

During the month of February 2022, payments due in respect of public and publicly guaranteed debt denominated in foreign currencies amount to approximately 2.1 billion euros. However, the government has already raised 2.5 billion euros with two Eurobonds and $2.1 billion with two other Eurobonds this year alone.