Latvia's central bank foreign reserves up 1.8% ytd in H1.

By bne IntelliNews July 8, 2013

Central bank’s foreign reserves amounted to EUR 5.788bn as of end of June, up by 1.8% ytd, according to a report by the Bank of Latvia. In m/m terms the reserves declined by 1.4% or EUR 80.24mn. Following a 16% m/m drop in March 2012, reserves picked up in the fall 2012 and have followed a moderate upward trend throughout the beginning of 2013.

In June, the monthly change in reserves was attributed to changes in fx funds deposited by credit institutions and the government. Most of the central bank’s foreign reserves as of end of June were foreign convertible currencies amounting to EUR 5.432bn. Gold reserves stood at EUR 237.25bn (down from EUR 280.2bn as of end of April and EUR 267.73bn as of end of May).

Related Articles

Lithuanian retail group Maxima Grupe to place €300mn-€400mn bond issue

Lithuanian retail giant Maxima Grupe is planning a bond issue worth €300mn-€400mn in order to diversify financing and reduce its dependence on borrowing from banks, Lithuanian ... more

Latvia to probe tram tender awarded to Russian-controlled Railvec

Latvia’s state security service, the Constitution Protection Bureau (SAB), plans to scrutinise a tender to deliver trams to the country’s second-largest city won by a Russian company with ties to ... more

Finland’s Hesburger first Western burger chain to open in Iran since Islamic Revolution

Finland’s Hesburger has opened its first branch in Iran, becoming the first Western burger chain to set up in the country since the 1979 Islamic Revolution. It is located in the Tehranpars district ... more