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.