The foreign currency reserves at Romania’s central bank dropped by more than €1bn in September from €34.96bn at the end of August to €33.32bn, the central bank announced.
Bank analysts are hinting that €1bn was spent by the central bank to keep the local currency from depreciating below the threshold of RON4.6 to the euro.
The central bank indicated, however, €2.6bn worth of foreign currency outflows. Approximately €1.39bn of this was interest payments and principal repayments on foreign currency public debt, out of which €1.18bn was principal repayments and interest payments on the European Commission’s loan to the government from 2009.
The central bank also indicated €965 million worth of inflows, and the differential might still cover the €1bn hinted at as being a direct intervention on the foreign currency market.
Most of the money came as inflows into the European Commission’s account as the disbursement of structural funds improved in the month.
At the end of September, Romania’s international reserves (foreign currencies and gold) stood at €36.96bn, compared to €38.62bn one month earlier.
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