Croatian c-bank FX reserves fall 0.7% y/y to EUR 11.3bn at end-March.

By bne IntelliNews April 27, 2012
The foreign exchange reserves of Croatia's central bank went down by 0.7% on the year to preliminary EUR 11.3bn at the end of March after recording an annual 9% growth a month earlier, the central bank reported. On a monthly basis, the c-bank reserves went down by 0.6% after growing 4.5% in the previous month. The foreign reserves decline came mainly on the back of dropping currency and deposits reserves, which decreased by an annual 38.3% to EUR 2.5bn at the end of March. Bonds and notes foreign exchange reserves rose by 20.8% on the year to EUR 8.5bn. The special drawing rights totalled EUR 354.1mn at the end of March, up from EUR 342mn at end-March 2011. The foreign exchange reserves of the commercial banks shrank by an annual 7.6% to EUR 2.7bn at the end of March. In local currency terms, the central bank's foreign exchange reserves reached HRK 85.1bn at end-March, up by an annual 0.9%. The foreign reserves in HRK terms reported a growth in comparison with the drop in EUR terms because of the weaker Croatian kuna.

Croatian c-bank FX reserves fall 0.7% y/y to EUR 11.3bn at end-March.

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