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Bulgarian C-Bank FX Reserves Rise 1.7% W/W in Week Ended Oct 10 - Table

Oct 15, 2008, 12:03:37 PMArticle by Iva Doneva
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October 15 (SeeNews) - The foreign exchange assets of the Bulgarian central bank's (BNB) Issue Department totalled 29.147 billion levs ($20.319 billion/14.898 billion euro) on October 10, up 1.7% from a week earlier, BNB data showed.

Bulgarian C-Bank FX Reserves Rise 1.7% W/W in Week Ended Oct 10 - Table

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

Oct 10 Oct 3 Dec 31'07
TOTAL ASSETS 29,147.326 28,646.262 23,346.050
FX cash and nostro accounts 2,255.336 1,912.430 3,509.428
Monetary gold and other monetary gold instruments 1,692.717 1,519.583 1,410.480
Investments in securities 25,199.273 25,214.249 18,426.142
TOTAL LIABILITIES 29,147.326 28,646.262 23,346.050
Currency in circulation 8,689.589 8,528.100 8,410.867
Liabilities to banks 6,615.992 6,298.681 5,783.339
Liabilities to government and to government budget institutions 10,637.746 10,826.776 6,446.755
Liabilities to other depositors 243.240 251.104 340.108
Banking department deposit 2,960.759 2,741.601 2,364.981

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)

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