Bank of Lithuania
2002-02-07

At the end of January 2002, international reserves made up USD 1,690.8 million. In the course of one month they increased by USD 21.6 million, or 1.3 percent.

At the end of January 2002, international reserves made up USD 1,690.8 million. In the course of one month they increased by USD 21.6 million, or 1.3 percent.

The main reason for the increase of international reserves was the operations of the central government in foreign exchange. Reserves were also pushed up by the commercial bank reserves, up by USD 5.1 million, net income of the Bank of Lithuania from foreign exchange investment and by the increased value of gold holdings by USD 0.9 million due to revaluation. The growth of international reserves was slowed down by the fact that commercial banks bought USD 11.2 million from the Bank of Lithuania more than they sold to it, partial repayment of the IMF loan and the decline of foreign currencies against the US dollar.