NBS FX reserves increase by RSD 300 million in July

NBS FX reserves increase by RSD 300 million in July

The foreign currency reserves ensure M1 coverage of 290 per cent and around seven months' worth of import of goods and services, NBS released.

The greatest foreign currency inflow was realized on grounds of NBS interventions on the interbank foreign exchange market. i.e. by purchase of EUR 230 million.

Other high foreign currency inflows were achieved on grounds of usage of loans and donations to the total sum of EUR 38.1 million and sale of euro-denominated securities issued by the Republic of Serbia on the local financial market to the total sum of EUR 145.4 million, NBS released.

Significant outflow from foreign currency reserves was achieved on grounds of payment of matured euro-denominated government securities to the total sum of EUR 52.3 million.

Net foreign currency reserves at the end of July totaled EUR 8.4 billion and constitute total reserves reduced by banks' foreign currency reserves on grounds of mandatory reserves and funds withdrawn from the International Monetary Fund within the arrangement closed in 2009. (end) dz/ak