Performance Management of International Reserves National Bank of Romania in Actual Crisis Period
Abstract2008 was a year of financial crisis - the world economy has slowed down growth and financial markets have become volatile. Crisis hit in full both private sector and the public. In this context, National Bank has carried a successful management of international reserves in order to ensure the liquidity necessary to carry out external transactions of the state and the objectives of central bank monetary policy, ensuring adequate foreign compositions, and realizing the availability of gold and currency risk under control. NBR strategy paid off. Conservative approach in managing foreign reserves and prudence shown, have been translated into a profit amounting to 3,338,305 lei, seven times the 2007 profit. In 2008, to prevent and mitigate the risk of central bank invested in the safest tools on the market, and issuers such as governments turned to other states and government agencies, always watching their rating of their financial statements. Finally, greater importance in achieving this result have had transactions with currencies of NBR to secure liquidity in the market and exchange rate stability. So, as a result of careful observation and good economic environment anticipation of its development, National Bank acted prudently in the public interest and the results have resulted in yield. In this paper, we try to surprise how the central bank acted to obtain these results, since the institution's role and the means used and ending with the performance achieved in a period with poor expectations .
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by Ovidius University of Constantza, Faculty of Economic Sciences in its journal Ovidius University Annals, Economic Sciences Series.
Volume (Year): XI (2011)
Issue (Month): 1 (May)
Contact details of provider:
Web page: http://www.univ-ovidius.ro/facultatea-de-stiinte-economice
More information through EDIRC
Synthesis crisis-performance gold currency reserves return;
Find related papers by JEL classification:
- G20 - Financial Economics - - Financial Institutions and Services - - - General
You can help add them by filling out this form.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Jeflea Victor).
If references are entirely missing, you can add them using this form.