Macedonian Currency Reserves over 1.5 bln euros
Thursday, 28 February 2008

Skopje /28/02/

Image The foreign currency reserves of the National Bank of Macedonia (NBM) totaled 1.522 billion euros until 15 February inclusive, NBM Council established at today's session.

The Council concluded that the current level of reserves offers guarantee for the stability of the foreign currency exchange rate.

"NBM is following closely the economic trends and depending on the price movement and developments at the financial markets, stands ready to undertake additional measures for stabilizing the inflation expectations," the announcement says.

The January inflation in Macedonia reached 8.7 percent, which is attributed to hiked prices of food.

The banking deposits in January increased by 28.8 percent compared with January 2007, while the total bank loans to the private sector increased by 39.9 percent in the same period.

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