International reserves down 0.4% y/y in July 2018
Gross international reserves were down 0.4% y/y and down 2.6% m/m to US$ 2.9bn in July 2018, according to NBG. The NBG purchased US$ 20mn on its 2 auctions in July, 2018. Change in reserves was attributed to government FX operations and/or asset revaluation.