Foreign currency reserves up EUR 2.4bn

The National Bank of Serbia (NBS) foreign currency reserves increased by about EUR 2.4bn in 2009. According to the preliminary data, the reserves reached the level of EUR 10.6bn at the end of December, while that month alone, they were up by EUR 563.2mn, the central bank stated Monday. Foreign currency reserves up EUR 2.4bn In U.S. dollars, the foreign currency reserves amounted to around 15.2bn at the end of the previous year and such a level secures 392 percent covering of the money mass. Along with the bank foreign currency reserves which at the end of December equaled EUR 1.46bn , the total state foreign currency reserves were over EUR 12bn (USD 17.3bn). The drawing of the second tranche of the International Monetary Fund (IMF) loan that amounted to EUR 349.3 million, loans granted by the European Investment Bank (EIB) worth EUR 49.5mn and EU macro-financial assistance that amounted to EUR 50mn had the greatest impact on the increase of the NBS foreign currency reserves in December, the statement said.

Foreign currency reserves up EUR 2.4bn

In U.S. dollars, the foreign currency reserves amounted to around 15.2bn at the end of the previous year and such a level secures 392 percent covering of the money mass.

Along with the bank foreign currency reserves which at the end of December equaled EUR 1.46bn , the total state foreign currency reserves were over EUR 12bn (USD 17.3bn).

The drawing of the second tranche of the International Monetary Fund (IMF) loan that amounted to EUR 349.3 million, loans granted by the European Investment Bank (EIB) worth EUR 49.5mn and EU macro-financial assistance that amounted to EUR 50mn had the greatest impact on the increase of the NBS foreign currency reserves in December, the statement said.