Moldova reports record-high currency reserves

Moldova's currency reserve assets have hit a new historical record of 2.414,9 billion dollars on 5 October, according to data put out by the National Bank of Moldova.

The currency reserves saw a significant rise due to the currency instalments, amounting to 77 million dollars, the National Bank of Moldova received from the International Monetary Fund in early October. Moldova's currency reserve assets amounted to 2.326 million dollars on 30 September.

The National Bank of Moldova announced a strong 137-million-dollars increase in the currency reserves in August and a 95-million-dollars increase in September, due to the National Bank's intervention on the market, by making currency acquisitions. This growth confirms the forecast of the IMF, according to which the accumulation of currency reserves would speed up.

According to financial experts, consolidating currency reserves is rather important given the stances of a high deficit of the current account, the increase in the private short-term external debts and external risks.

The reserve assets went up by approximately 450 million dollars in 2012, against late 2011, when these amounted to 1965.3 million dollars.

Adapted from Moldpres