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Oct 03, 2007 10:41 EEST
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):
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.
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