Gross international reserves increased by 7.5% y/y to US$ 5.0bn in Jul-25, according to NBG. On a monthly basis, the reserves were also up by 7.1% (+US$ 331.3mn)- Galt&Taggart research says.
Changes in reserves were attributed to the changes in government and/or banking sector FX operations, and likely also to NBG’s FX purchases via BMatch platform (information will be available on 25 August). Notably, as of Jul-25, monetary gold accounted for 15.1% of total international reserves.
