The central bank’s official reserves decreased by EUR38.2m (1.4% m/m) in October to EUR2.77bn by the end of the month, according to the NBS’ latest data. Some EUR23.9m of the total decrease is due to a 2% m/m fall in the value of gold reserves from EUR1.21bn at end-September to EUR1.18bn by end-October. Repo operations with bonds and notes decreased for the second month in a row — by 1.2% m/m to EUR1.1bn. There were no other significant monthly fluctuations in reserves for October.
In annual terms, reserves increased by EUR166.7m y/y (or by 6.4% y/y), mostly due to higher foreign currency reserves, which grew by EUR171.5m y/y (17.2% y/y), entirely thanks to higher value of securities and more specifically, repo operations with bonds and notes, which grew by 18.5% y/y in October. The value of gold reserves also rose, by EUR131.6m (12.5% y/y) while on the other hand the value of SDRs continued to slide on a yearly basis, falling by EUR184.1m y/y (45.0% y/y) to EUR225.1m.