At the end of December 2004 international reserves made up LTL 9,108.9 million (EUR 2,638.1 million, USD 3,594.0 million). In the course of one month they decreased by LTL 506.7 million, i.e. 5.3 per cent.
The main reason behind the decrease was net purchase of foreign exchange by commercial banks from the Bank of Lithuania of LTL 766.2 million and an LTL 110.0 million decline in Bank of Lithuania repurchase transactions with non-residents. Another source of the decrease was the net purchase of foreign exchange by non-residents of LTL 62.2 million from the Bank of Lithuania in December. The reserves were pushed up by LTL 464.7 million by Bank of Lithuania operations with central government institutions and net inflows from investment in foreign currencies.
In the course of 2004 international reserves went down by LTL 419.4 million, i.e. 4.4 per cent. The main reason behind the decrease was net purchase of foreign exchange by commercial banks from the Bank of Lithuania of LTL 1.61 billion in 2004. The reserves were also pushed down by an LTL 185.3 million decline of Bank of Lithuania repurchase transactions with non-residents. Bank of Lithuania operations with central government institutions in foreign exchange amounted to LTL 1.48 billion in 2004, which was the largest factor increasing international reserves. Reserves were also boosted by the increase of commercial bank required reserves in foreign exchange (LTL 106.3 million) and the net income of the Bank of Lithuania from investment in foreign currencies.
| (LTL millions, unless otherwise indicated; end of period) |
| Official reserve assets | |||||||||||||||
| Total | Monetary gold2 | Special drawing rights | Reserve position in the IMF | Foreign exchange | Other claims | ||||||||||
| USD millions | EUR millions1 | LTL millions | LTL millions | in fine troy ounces (millions) | Total | Currency and deposits | Securities | Financial derivatives | |||||||
| Total | With monetary authorities and the BIS | With banks | |||||||||||||
| 11/2004 | 3,689.7 | 2,784.9 | 9,615.6 | 218.9 | 0.186 | 0.2 | 0.1 | 9,396.4 | 1,628.2 | 827.7 | 800.5 | 7,768.2 | - | - | |
| 12/2004 | 3,594.0 | 2,638.1 | 9,108.9 | 206.3 | 0.186 | 0.2 | 0.1 | 8,902.4 | 1,256.6 | 48.4 | 1,208.2 | 7,645.8 | - | - | |
| 12 - 11/2004 | |||||||||||||||
| Change: | in millions | -95.7 | -146.7 | -506.7 | -12.6 | 0.0 | 0.0 | 0.0 | -494.1 | -371.6 | -779.3 | 407.7 | -122.5 | - | - |
| in per cent | -2.6 | -5.3 | -5.3 | -5.8 | 0.0 | -1.3 | -1.3 | -5.3 | -22.8 | -94.2 | 50.9 | -1.6 | - | - | |
1.XEU till December 31, 1998
2. Since December 2001 gold has been valued once per month on the last working day at the value of London gold price fixing. Previously, gold was valued once per year on the last working day at the lowest value of London gold price fixings during the year, if that value was lower than book value.