Gross reserves of National Bank total $3.3 billion in February

The statement provided indicates that the gross reserves held by the National Bank amounted to a total of $3.3 billion as of February. Gross reserves refer to the total amount of foreign currency that a central bank holds, including gold, special drawing rights (SDRs), and other foreign currency assets. These reserves serve as a buffer for a country's monetary system and help maintain its exchange rate peg or provide liquidity to the financial system.

The National Bank's gross reserves represent its foreign currency assets that can be used to meet various obligations such as debt repayments, foreign exchange market interventions, and other international commitments. The size and composition of a country's gross reserves can influence its economic stability and market confidence.

The $3.3 billion figure mentioned is a snapshot of the National Bank's gross reserves as of February. It is essential to note that central banks' reserve levels can change frequently due to various factors such as foreign exchange market interventions, capital inflows and outflows, and changes in gold prices.

In summary, the National Bank's gross reserves amounted to $3.3 billion as of February 2023. This figure represents the total value of foreign currency assets held by the central bank and serves as a crucial component of the country's monetary system and economic stability.