Bank of Lithuania

At the end of May 2002, international reserves made up LTL 7,976.0 million (USD 2,164.9 million, EUR 2,310.0 million).In the course of one month they increased by LTL 1,076.1 million, or 15.6 percent.

The main reason behind the increase was the inflows from EUR 400 million ten-year Eurobond placement into Central Government accounts at the Bank of Lithuania.Another source of the increase was the net purchases of foreign exchange from commercial banks of USD 85.1 million. The increase was slowed down by the LTL 122.2 million decline in commercial bank foreign exchange reserves resulting from the lowered reserve requirement ratio from 8 to 6 per cent.