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Bulgaria c-bank FX reserves edge up 0.3% in week to Dec 15 - table

Dec 17, 2012, 3:15:48 PMArticle by Vera Borisova
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December 17 (SeeNews) - The foreign exchange assets of the Bulgarian central bank's Issue Department totalled 28.87 billion levs ($19.3 billion/14.8 billion euro) on December 15, up 0.3% from a week earlier, the central bank said on Monday.

Bulgaria c-bank FX reserves edge up 0.3% in week to Dec 15 - table

Saturday, December 15, was an extraordinary workday in Bulgaria.

Following are details from the Issue Department's balance sheet (in millions of levs):

Dec 15'12 Dec 07'12 Dec 23'11
TOTAL ASSETS 28,868.114 28,787.448 25,161.473
FX cash and nostro accounts 7,692.635 7,603.508 5,796.717
Monetary gold and other monetary gold instruments 3,253.070 3,295.473 3,083.607
Investments in securities 17,922.409 17,888.467 16,281.149
TOTAL LIABILITIES 28,868.114 28,787.448 25,161.473
Currency in circulation 9,205.577 9,155.773 8,783.668
Liabilities to banks 6,069.252 6,401.680 4,957.958
Liabilities to government and government budget institutions 6,166.858 5,784.151 4,559.155
Liabilities to other depositors 1,288.669 1,290.224 1,007.843
Banking department deposit 6,137.758 6,155.620 5,852.849

Since July 1997 Bulgaria has been operating an IMF-prescribed currency board system, a tight monetary arrangement that ties the level of cash in circulation to the amount of central bank reserves. The fixed exchange rate of the Bulgarian currency under this system is 1.95583 levs per euro.

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