The foreign exchange reserves held by Romania's National Bank (BNR) rose by 7.5% or nearly EUR 2.5 billion in May, to EUR 35.65 bln at the end of the month.

Forex inflows hit EUR 8.0 bln in the month, out of which EUR 3.3 bln stands for the Eurobond issue. Transfers from the European Union's budget probably had a significant contribution to the high inflows as well.

The outflows were also impressive: EUR 5.5 bln, out of which the service of the external public debt accounted for only EUR 147 million.

The gold reserve remained unchanged at 103.6 tonnes. Given the evolution of international prices, its value at the end of May was EUR 5.17 bln. Romania's international reserves (currencies plus gold) thus went up to EUR 40.8 bln at the end of May, compared to EUR 38.42 bln on April 30.

editor@romania-insider.com

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