NBS: Foreign currency reserves amount to 11.44 billion euros
The gross foreign currency reserves of the National Bank of Serbia (NBS) amounted to EUR 11.44 billion at the end of March, which is EUR 42.1 million more than in February, and as much as EUR 1.20 billion more than at the end of March 2018.
Foreign currency reserves at this level provide coverage of the money supply M1 of 184% and more than five months of import of goods and services, which is almost twice the standard that determines the adequate level of coverage of the import of goods and services with foreign currency reserves, announced the NBS.
The net foreign currency reserves (foreign currency reserves reduced by foreign currency assets of banks based on mandatory reserve and other bases) amounted to EUR 8.96 billion at the end of March, which is EUR 3 million more than at the end of the previous month.
The increase in gross foreign currency reserves in March was largely influenced by inflows based on the successful management of foreign currency reserves, donations, mandatory foreign currency reserves due to the usual activities of banks and on other bases, in the total net amount of EUR 94 million.