International Reserves (March 2002)
At the end of March 2002, international reserves made up LTL 6,875.5 million (USD 1,739.5 million, EUR 1,991.3 million). In the course of one month they decreased by LTL 379.3 million, or 5.2 percent.
The main reason behind the decrease was the decline of Bank of Lithuania repo transactions with non-residents by LTL 580.6 million. The reserves were also pushed down by the decline of the US dollar against the euro and repayment of a part of the IMF loan. The decrease of international reserves was partly slowed down by net purchases of foreign exchange from commercial banks of LTL 187.5 million. Reserves were also boosted by Bank of Lithuania foreign exchange operations with the Central Government, net income of the Bank of Lithuania from investment in foreign currencies and a LTL 8.1 million increase in commercial bank reserve requirements in foreign currencies.