SARAJEVO (Bosnia and Herzegovina), October 3 (SeeNews) – The gross foreign reserves of Bosnia's central bank (CBBH) rose in August by 1.5% month-on-month to 6.298 billion marka ($4.558 billion/3.216 billion euro), central bank data showed on Wednesday.
In July, the bank's gross foreign reserves increased by 5.2% as compared to a month earlier, reaching 6.203 billion marka.
The central bank keeps most of its foreign reserves in currency deposits with foreign banks. In August, CBBH deposits with non-resident banks reached the equivalent of some 5.761 billion marka, up from 5.705 billion marka the previous month.
Details follow (in millions of Bosnian marka):
|
|
Aug'07 |
July'07 |
Aug'06 |
| GROSS FOREIGN RESERVES |
6,298.2 |
6,203.4 |
5,038.6 |
| -Gold |
0.0 |
0.0 |
0.0 |
| -SDR with IMF |
0.3 |
0.9 |
0.6 |
| -Foreign exchange in CBBH vault |
60.9 |
29.1 |
69.8 |
| -Deposits with non-resident banks |
5,760.9 |
5,704.7 |
4,535.7 |
| -Other |
71.2 |
67.1 |
40.3 |
| -Investments in Foreign Securities |
404.8 |
401.6 |
392.3 |
| Net foreign reserves |
6,297.2 |
6,202.4 |
5,037.6 |
| Monetary liabilities |
5,962.7 |
5,884.0 |
4,800.8 |
| Net free reserves |
334.5 |
318.5 |
236.9 |
NOTES: Gross foreign reserves consist of balance sheet positions of short-term foreign assets of CBBH (gold, CBBH SDR holdings, foreign exchange in the CBBH vault, short-term foreign exchange deposits with non-resident banks and other) and investment in long-term foreign securities according to the CBBH Investment Committee Decision from July 2006.
Net foreign reserves represent a difference between gross foreign reserves and liabilities to non-residents.
Monetary liabilities include money outside monetary authorities and deposits of residents with monetary authorities.
Net free reserves represent a difference between net foreign exchange reserves and monetary liabilities of CBBH.
The Bosnian convertible marka is pegged to the euro at a fixed exchange rate of 1.95583 per euro under a currency board system.