The NBR's foreign currency reserve in March added a further2.29bn euros rising to a new all-time high of 32bn euros, thusregistering the biggest monthly leap of the past three years. Theincrease came as result of the disbursement of the second tranche,of 1bn euros, from the EC loan, of the Eurobond issue through whichthe state raised one billion euros from the international market,as well as of the foreign currency purchases the NBR operated onthe interbank market, say dealers. Similar monthly jumps wereregistered only in August 2007 and October 2006. "The NBR said (itwas not comfortable with a too strong RON increase) and is nowshowing it keeps its pledges. They bought foreign currency from themarket on a daily basis, with sums amounting to hundreds of millioneuros", a dealer commented. The euro rose back above the 4.1 RONthreshold, after in the second half of March the market had vainlytried to drive the exchange rate to below 4.05 RON/EUR. Almostthree billion euros entered the central bank's coffers last month,according to NBR representatives.
