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Bulgarian c-bank's FX reserves rise in March

Bulgarian c-bank's FX reserves rise in March Ju1978/

SOFIA (Bulgaria), April 15 (SeeNews) - The foreign exchange assets of the Issue Department of Bulgaria's central bank BNB totalled 48.9 billion levs ($28.2 billion/ 25 billion euro) on March 29, up from 48.4 billion levs a month earlier, BNB figures showed.

Following are details from the Issue Department's balance sheet published on BNB website (in billions of levs):

  end-March end-Feb
TOTAL ASSETS 48.9 48.4
FX cash and nostro accounts 18.9 18.5
Monetary gold and other monetary gold instruments 2.9 2.9
Investments in securities 27.02 26.9
Currency in circulation 16.8 16.7
Liabilities to banks 14.6 14.2
Liabilities to government and government budget institutions 9.5 9.5
Liabilities to other depositors 2.1 2.1
Banking department deposit 5.7 5.7

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 the system is 1.95583 levs per euro.

(1 euro=1.95583 levs)