Hard currency reserves up by over EUR 800mn

The National Bank (NBS) foreign exchange reserves were increased by EUR 804.2mn in May to reach EUR 8.9bn. While the first tranche of the International Monetary Fund (IMF) loan, amounting to EUR 787,8 million, had the greatest impact on the reserves raise, the central bank stated Monday. Hard currency reserves up by over EUR 800mn The Serbian dinar (RSD) nominally depressed against the euro (EUR) by 0.6 percent and the currency exchange rate was formed entirely under the influence of market factors based on indirect inter-bank trade, given that the NBS has not intervened in the foreign exchange market. Expressed in dollars, NBS foreign exchange reserves equaled some USD 12.5bn and such an amount enables 380 percent coverage of the dinar money mass.

Hard currency reserves up by over EUR 800mn

The Serbian dinar (RSD) nominally depressed against the euro (EUR) by 0.6 percent and the currency exchange rate was formed entirely under the influence of market factors based on indirect inter-bank trade, given that the NBS has not intervened in the foreign exchange market.

Expressed in dollars, NBS foreign exchange reserves equaled some USD 12.5bn and such an amount enables 380 percent coverage of the dinar money mass.