NBS hard currency reserves down

Serbia's foreign currency reserves decreased by EUR 346.6mn, to reach EUR 9.45bn in October. In the same period, the Serbian dinar, RSD, lost 9.9 percent of its value against the euro. NBS hard currency reserves down The National Bank of Serbia (NBS) also announced in Belgrade on Tuesday that the reserves, expressed in U.S. dollars, were at 11.97bn at the end of October, which provides for the covering of the money mass of 348 percent. Added to the total figure, banks' reserves of EUR 704.9mn brought the country's overall hard currency reserves to over EUR 10bn. The central bank announced that the decrease came after it moved to improve the banking sector foreign currency liquidity by returning EUR 473.9mn to the banks, at the same time paying a EUR 21.8mn installment to foreign creditors. In October, the NBS spent EUR 269mn in the inter-banking market, in bids to secure liquidity and prevent serious fluctuations in the daily exchange rates of the dinar.

NBS hard currency reserves down

The National Bank of Serbia (NBS) also announced in Belgrade on Tuesday that the reserves, expressed in U.S. dollars, were at 11.97bn at the end of October, which provides for the covering of the money mass of 348 percent.

Added to the total figure, banks' reserves of EUR 704.9mn brought the country's overall hard currency reserves to over EUR 10bn.

The central bank announced that the decrease came after it moved to improve the banking sector foreign currency liquidity by returning EUR 473.9mn to the banks, at the same time paying a EUR 21.8mn installment to foreign creditors.

In October, the NBS spent EUR 269mn in the inter-banking market, in bids to secure liquidity and prevent serious fluctuations in the daily exchange rates of the dinar.