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UPDATE 1-Romania's c.bank reserves down at 24.9 bln euros

Published 05/04/2009, 09:12 AM
Updated 05/04/2009, 09:16 AM
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BUCHAREST, May 4 (Reuters) - The Romanian central bank's (BNR) foreign exchange reserves, excluding 103.7 tonnes of gold, fell 235 million euros to 24.9 billion euros ($32.96 billion) in April, central bank data showed on Monday.

Inflows stood at 3.547 billion euros, coming from changes in the reserve requirements of credit institutions, inflows in the finance ministry's account, inflows in the European Commission's account held at the BNR, transactions on the interbank market and income from foreign reserves management.

Outflows totalled 3.782 billion euros, reflecting changes in the reserve requirements and payments from the European Commission account, interbank transactions and payments to service Romania's public external debt.

The bank said last month that about 65 percent of the reserves consist of assets denominated in euros, 27.5 percent are denominated in dollars, 7 percent are denominated in pounds and 0.5 percent in other currencies.

Over the last several months, dealers and economists have suspected the central bank intervened sporadically as economic concerns weighed on the leu currency. The central bank has declined to comment on this year's suspicions of intervention.

The leu lost roughly 4 percent against the euro this year, far less than the Hungarian forint and the Polish zloty.

The IMF board in Washington is expected to give a green light to a 20 billion euro IMF-led financial aid package for Romania on May 4. The first tranche is expected to feed reserves with 5 billion euros in early May.

Payments due to service external public and publicly guaranteed debt would total 146 million euros in May. ---------------------FOREX RESERVES-------------------------

END-APRIL END-MARCH (euro mln) 24,886 25,121 Total entries (euro mln) 3,547 3,519 Total outflows (euro mln) 3,782 4,315 (Reporting by Radu Marinas; Editing by Ron Askew)

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