Foreign exchange reserves increased to EUR 16.45 billion

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    Foreign exchange reserves increased to EUR 16.45 billion

    At the end of November this year, the gross foreign exchange reserves of the National Bank of Serbia (NBS) amounted to 16.45 billion euros, which is 175.3 million euros more than in October.

    Foreign exchange reserves at this level provide M1 money supply coverage of 144 percent and more than six months of the import of goods and services, which is twice the standard.

    Net foreign exchange reserves at the end of November amounted to about 13.94 billion euros, which is 76 million euros more than at the end of the previous month.

    Net inflows into foreign exchange reserves in November were realized on the basis of the mandatory foreign exchange reserves of banks in the amount of EUR 40.1 million (due to normal activities of banks), donations of EUR 16.8 million, sales of government securities on the domestic financial market worth EUR 15.4 million, as well as on the basis of foreign exchange reserves management and other bases (a total of EUR 119.2 million).

    The increase in foreign exchange reserves in November was additionally affected by the positive effect of market factors in the net amount of 231.8 million euros, mostly due to the strengthening of the dollar against the euro by 3.1 percent.

    The volume of realized foreign exchange trade on the interbank foreign exchange market in November amounted to EUR 701.2 million and it was EUR 107.7 million higher than in the previous month. In the 11 months of this year, a total of more than EUR 5.99 billion was realized in interbank trade.

    In November, as well as since the beginning of this year, the value of the dinar against the euro was almost unchanged. The NBS sold 110 million euros on the interbank foreign exchange market in November, and since the beginning of the year, in order to maintain the relative stability on the foreign exchange market, it has bought 850 million euros net.

    Izvor: Beta

    Foto: Pixabay

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