Bosnias c-bank FX reserves up 1.3% y/y in October 2012.

By bne IntelliNews December 4, 2012
The gross foreign reserves managed by Bosnias central bank increased for the second straight month in October 2012 rising by 1.3% in annual terms to BAM 6.3bn (EUR 3.2bn) in October 2012, following a 0.8% hike in September, central bank data showed. In monthly terms, the foreign reserves edged down 0.1% in October, after increasing by 1% in September. The FX reserves equalled to 24.6% of projected full-year GDP as of end-October, up from 24.4% a year earlier. Investment in foreign securities increased by BAM 1.96bn in annual terms to BAM 3.6bn but edged down 0.8% on the month after rising 6.7% m/m in September. However, deposits with non-resident banks continued to drop in year-on-year comparison reaching BAM 2.46bn in October, down 43.4% y/y. In monthly terms they posted a 6% increase for the first time since January 2012. End-Octobers net foreign reserves held by the central bank stood at BAM 6.28bn, up 1.3% on the year but down 0.1% on the month. They went down 0.5% y/y at the end of 2011 after increasing by 3.9% y/y at the end of 2010. However, the c-banks net FX reserves continued to fully cover its monetary liabilities (which comprise cash in circulation as well as reserve deposits of commercial banks and other demand deposits with the central bank), thus guarantying the stability of the currency board arrangement. The level of this coverage was 108.8% at end-October, unchanged compared to the like period of 2011 and down from 108.9% at end-September.

Bosnias c-bank FX reserves up 1.3% y/y in October 2012.

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