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Bulgaria's C-Bank FX Reserves Fall 1.9% in Week Ended Oct 2 - Table

Oct 6, 2009, 10:14:50 AMArticle by Vera Borisova
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October 6 (SeeNews) - The foreign exchange assets of the Bulgarian central bank's Issue Department totalled 23.283 billion levs ($17.52 billion/11.90 billion euro) on October 2, 1.9% down from a week earlier, central bank data showed.

Bulgaria's C-Bank FX Reserves Fall 1.9% in Week Ended Oct 2 - Table

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

Oct 2 Sept 26 Dec 30'08
TOTAL ASSETS 23,283.059 23,743.956 24,864.756
FX cash and nostro accounts 2,904.307 3,781.621 2,655.053
Monetary gold and other monetary gold instruments 1,725.990 1,708.203 1,536.815
Investments in securities 18,652.762 18,254.132 20,672.888
TOTAL LIABILITIES 23,283.059 23,743.956 24,864.756
Currency in circulation 7,656.953 7,763.300 9,179.414
Liabilities to banks 3,643.636 3,967.837 5,006.376
Liabilities to government and to government budget institutions 6,885.697 7,047.831 7,291.573
Liabilities to other depositors 532.577 402.872 289.902
Banking department deposit 4,564.196 4,562.116 3,097.491

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 the system is 1.95583 per euro.

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