North Macedonia’s FX reserves continue to grow in August

North Macedonia’s FX reserves continue to grow in August
/ bne IntelliNews
By bne IntelliNews September 12, 2022

North Macedonia’s gross international reserves rose by 2.8% month on month in August to €3.286bn, after increasing 2.6% m/m in July (chart), preliminary central bank data indicated.

This is the second month in which fx reserves have increased on a monthly level, after declining for several months.

However, year on year, gross international reserves fell by 11% at the end of August, after dropping 9.9% y/y in the previous month, data showed.

In terms of financial instruments, most of the reserves were in securities (72%), followed by currencies and deposits (16.5%) and monetary gold (11.5%).

At the end of 2021, the country’s gross foreign reserves were up by 8.4% y/y to €3.643bn.

Data

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