The central bank keeps track of the total value of its reserves in dollars, so a weaker euro means that euro-denominated assets are worth less in dollars, decreasing the total value of the reserves.

In normal times, Banks share their cash reserves with each other through short-term loans at interest rates that should closely track the policy rates set by central Banks.

Injured townspeople were being treated in hospitals, and at improvised medical centers in the town's central square and at a horse-racing track, officials said.