Bulgarian C-Bank FX Reserves Fall 3.0% - Table

Usually, the Bulgarian central bank issues statistics for its foreign exchange assets on a weekly basis, on Monday for the previous Friday. The latest balance sheet covers a shorter period due to the Christmas holidays. December 20, Saturday was a working day in Bulgaria this year, while December 24, 25 and 26 were market and public holidays.

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

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 lev under this system is 1.95583 per euro.

(1 euro = 1.95583 Bulgarian levs)