Romanian central banks forex reserves stay flat on the year at end-January.

By bne IntelliNews February 2, 2012
Romania's central bank said its foreign currency reserves remained unchanged on the year at EUR 32.7bn at the end of January. The end-January reserves, however, edged down by nearly EUR 0.5bn on the month, the central bank said on its website. The reserves shrank in terms of average monthly volume of imports of goods and services, covering 6.8 months at end-January, down from 7.8 months a year earlier. The proportion of reserves to short-term external debt also deteriorated, to 152% at the end of January from 164% a year earlier. Even if both indicators have deteriorated over the past year, they still remain in the safe zone. The value of central bank's 103.7 tonnes of gold reserves stood at EUR 4.4bn, which added to the forex reserves puts the total international reserves at EUR 37.1bn at end-January.

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