Reserves Down Despite NBU Currency Purchases.
6 July 2008
The National Bank bought $247m of foreign currency on the interbank market in June, while commercial banks bought $63m on the cash market. Both numbers were almost unchanged from May. However, reserves were down slightly, by $73m, to $17.586 bn. Alexander Viktorov: Judging from these numbers, the trade balance and cash foreign exchange markets are stabilizing after a weak first four months of the year. The drop in reserves was probably just exchange-rate fluctuation.
