Moldova's int'l reserves fall 3% to $5.3 bln in H1

CHISINAU. July 11 (Interfax) - Moldova's international reserves fell 3% or $164.5 million during H1 2024 to $5.289 billion from $5.453 billion, the National Bank of Moldova said.

The reserves fell 1.2% or $65.9 million during June.

The June drop was affected by payments related to the required reserves of licensed banks, external government debt servicing and a drop in the exchange rates of reserve currencies against the U.S. dollar. The reserves were supported by profits from their management, as well as borrowing by the Finance Ministry and the revaluation of securities in the investment portfolio.

Assets in convertible currency fell 3% in H1 and 1.4% in June to $5.271 billion with investments in securities rising 5.4% and 1.5% to $4.53 billion.

Deposits outside the country decreased 35% in H1 and 16.1% in June to $740.6 million, with deposits in the central banks of other countries falling 60% during the half-year to $248.4 million and deposits with foreign commercial banks down 6.5% to $492.2 million.

IMF Special Drawing Rights were the equivalent of $11.87 million, up 1.5% over the half-year, and monetary gold rose 12.7% in value to $5.52 million.

Moldova's international reserves grew 21.9% in 2023 and 14.7% in 2022.