Bank of Lithuania
2004-01-08

At the end of December 2003, international reserves made up LTL 9,528.3 million (EUR 2,759.6 million, USD 3,449.7 million). In the course of one month they increased by LTL 597.5 million, i.e. by 6.7 per cent.

The main reason behind the increase was the operations of the Bank of Lithuania with central government institutions, which pushed the reserves up by LTL 403.0 million. Another source of the increase was the net purchases of foreign exchange from commercial banks of USD 296.9 million. The official reserves were pushed down by LTL 108.3 million by repurchase transactions with non-residents.

In the course of 2003 international reserves went up by LTL 1,538.5 million, i.e. 19.3 per cent. The increase was determined by Bank of Lithuania operations with central government institutions resulting in reserve increase of LTL 804.8 million and the net purchase of foreign exchange from commercial banks of LTL 699.7 million. Reserves were also boosted by the increase of commercial bank required reserves in foreign exchange and the net income of the Bank of Lithuania from investment in foreign currencies. The reserves were pushed down by the repurchases of the Bank of Lithuania from the IMF of LTL 175.6 million done in January 2003.

Note. The year-on-year data of December 2002-November 2003 were recalculated following the adjustment of the methodology of the securities market value calculation.

(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
11/2003 3,083.9 2,586.6 8,930.9 214.7 0.186 0.2 0.1 8,715.9 1,135.1 508.6 626.5 7,580.8 - -
12/2003 3,449.7 2,759.6 9,528.3 214.6 0.186 0.2 0.1 9,313.5 1,953.5 503.9 1,449.5 7,360.0 - -
12 - 11/2003
Change: in millions 365.8 173.0 597.5 -0.1 - 0.0 0.0 597.5 818.4 -4.6 823.0 -220.8 - -
in per cent 11.9 6.7 6.7 0.0 - -1.9 -1.9 6.9 72.1 -0.9 131.4 -2.9 - -

 

Notes:


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.