Bulgaria Central Bank FX Reserves Rise 0.3% In Week To May 23

Bulgaria Central Bank FX Reserves Rise 0.3% In Week To May 23

The foreign exchange assets of the Bulgarian central bank's Issue Department totalled 26.85 billion levs ($18.7 billion/13.7 billion euro) on May 23, up 0.3% from a week earlier, the central bank said on Monday.
Since July 1997, Bulgaria has been operating an IMF-prescribed currency board system, a tight monetary arrangement that ties the level of cash in circulation to the amount of central bank reserves. The fixed exchange rate of the Bulgarian currency under this system is 1.95583 levs per euro.

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