The main factors contributing to the decline in the value of the NBM’s foreign exchange reserves were market interventions, external payments, and exchange rate differences. Payments related to servicing the Republic of Moldova’s external public debt totaled 24.35 million euros. The depreciation of the exchange rates of the currencies comprising the foreign exchange reserves against the euro “eroded” an additional 12.90 million euros.
At the same time, the volume of reserves was supported by net inflows of foreign aid to the Ministry of Finance totaling 1.71 million euros, income from asset management amounting to 12.94 million euros, and income of 3.06 million euros from the placement of mandatory foreign exchange reserves by commercial banks.
