In July, the National Bank received only 43.21 million euros in its accounts, compared to 340 million euros in June. In addition, a lot of funds went to debt repayment and exchange rate support. 54 million euros were allocated for servicing external debt, while the NBM’s interventions to sell foreign currency deducted another 64 million euros from foreign exchange reserves.
The decrease in official reserves was also affected by the revaluation of securities held in the investment portfolio – 5.24 million euros and payments of the Ministry of Finance – 2.70 million euros.
Income from the appreciation of the exchange rates of the currencies included in the foreign exchange reserves against the euro (by EUR 30.90 million), from the management of foreign exchange reserves (by EUR 12.93 million), from the inflow of funds related to the mandatory foreign exchange reserves of banks (by EUR 7.24 million) and other income did not make up for the costs without massive external injections.
