FRENCH RESERVES FALL ON DEBT REPAYMENT

  French reserves fell in the week ended
  March 19 following repayment of the bulk of the debt contracted
  during January with the European Monetary Cooperation Fund, the
  Bank of France said in its weekly statement.
      The repayment of capital and interest on this loan, taken
  out during the strong pressure on the franc which preceded the
  European Monetary System (EMS) realignment and the subsequent
  Group of Five meeting in Paris, took place on March 13.
      It comprised the repayment of 11.25 billion francs' worth
  of European Currency Units (ECUs), 9.72 billion francs' worth
  of foreign currency and 1.72 billion francs' worth of special
  drawing rights (SDRs), the Bank said.
      As a result foreign currency reserves fell to 114.69
  billion francs on March 19 from 120.82 billion on March 12,
  while ECU reserves fell to 62.02 billion francs from 73.23
  billion.
      Gold reserves remained stable at 218.32 billion francs.
  

