2007-11-07
At the end of October 2007, official reserve assets made up LTL 19.6 billion (EUR 5.7 billion or USD 8.2 billion). In the course of one month they increased by LTL 3.34 billion, i.e. by 20.6 percent.
The increase in official reserve assets was driven by the central government deposits with the Bank of Lithuania, which grew by LTL 2.77 billion. The major reason behind this growth was the ten-year Eurobond issue of EUR 600 million (LTL 2.07 billion) placed by the Government of the Lithuanian Republic in international markets. Also, official reserve assets were pushed up by a hike in the deposits of other MFIs with the bank of Lithuania and an increase in cash in circulation by respectively LTL 402.5 million and LTL 113.1 million, as well as a growth of LTL 59.5 million in other factors. As a result of the change in the external liabilities of the Bank of Lithuania, official reserve assets contracted by LTL 3.7 million.
The data on official reserve assets, excluding funds received from repo transactions, now are available on the official website of the Bank of Lithuania, see “Statistics”, table “International reserves”. As a result of repo transactions made up between the Bank of Lithuania and non-residents, the official reserve balance fluctuates depending on the borrowed funds that are received or paid back. The new indicator will contribute to more accurate estimate of changes regarding the official reserve asset balances. The data on official reserve assets, excluding the funds received from repo transactions have been provided since January 2006.
At the end of October 2007, official reserve assets, excluding the funds received from repo transactions made up LTL 18.3 billion, a month-on-month increase of LTL 3.39 billion.