Performance Management of International Reserves National Bank of Romania in Actual Crisis Period
2008 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 .
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
When requesting a correction, please mention this item's handle: RePEc:ovi:oviste:v:11:y:2011:i:1:p:639-645. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Gheorghiu Gabriela)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.