NBS: FX Reserves Higher by EUR 369 Million in October

Gross NBS FX reserves amounted to EUR 16.87 billion at end-October, up by EUR 369 million from a month earlier. They covered 148.7% of money supply (M1) and almost five months’ worth of the country’s import of goods and services, which is almost twice the level prescribed by the adequacy standard, says the press release by the National Bank of Serbia (NBS).

Net FX reserves (FX reserves less banks’ FX balances on account of required reserves and other grounds) came at EUR 13.91 billion at end-October, having increased by EUR 367.3 million from the month before.

The increase in FX reserves reflects primarily the NBS’s activities in the local FX market (inflow from FX purchases totaled EUR 480 million). A contribution also came from net inflows in respect of banks’ FX required reserves, FX reserves management, donations and other sources (EUR 148.3 million total), the press release says.

The dinar stayed broadly unchanged against the euro in October, while gaining 0.2% nominally since the beginning of the year.

Narodna banka Srbije Beograd

National Bank of Serbia

NBS

FX reserves

gross FX reserves

net FX reserves

coverage of import of goods and services

increase of FX reserves

FX reserves management

dinar exchange rate to the euro

dinar exchange rate