Financial developments in October and outlook for November

At the end of October 2023, Romania's foreign exchange reserves decreased slightly to EUR 58,186 million, compared to EUR 59,238 million in the previous month, according to data provided by the National Bank of Romania (NBR).

This adjustment comes in the context of significant financial operations during the month. The inflows of EUR 1,121 million were mainly due to changes in credit institutions' minimum foreign currency reserves with the NBR, as well as replenishment of the Ministry of Finance's accounts and others. By contrast, outflows of €2,173 million were due to changes in the foreign currency minimum reserves of the credit institutions, interest and instalment payments on account of foreign currency-denominated public debt, as well as payments on account of the European Commission and others.

The level of gold reserves also remained constant at 103.6 tonnes, worth €6,246 million in the light of international price developments. However, Romania's international reserves, calculated as the sum of currencies and gold, decreased to EUR 64,432 million on 31 October 2023, compared to EUR 65,117 million on 30 September 2023.

Against this background, it can be seen that payments falling due in November 2023 on account of foreign currency-denominated government debt amount to around EUR 1,747 million.

For further details and analysis, please visit bnr.ro.