Hard currency reserves at EUR 10bn

Serbia's total hard currency reserves have at the end of August stood at EUR 10bn (USD 13.68bn).

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Saturday, 08.09.2007.

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Serbia's total hard currency reserves have at the end of August stood at EUR 10bn (USD 13.68bn). The central bank (NBS) said in a statement Friday that the reserves increased by EUR 163.2mn in the last month to EUR 9.5bn, which provides for the money supply (M1) to be covered by 345 percent. Hard currency reserves at EUR 10bn Additionally, commercial banks' reserves stood at EUR 518.8mn. The rise in the reserves was generated by the purchase of hard currency in the amount of EUR 105.9mn, while the buyers of the ex-federal MUP building contributed when they paid EUR 29.mn, also in August. EUR 33.9mn was spent on the so-called old hard currency savings installments, while EUR 4.5mn went toward foreign creditors. Official mean exchange rate last month went from RSD 79.6578 to 80.7607 for one euro, which meant that the domestic currency nominally depreciated by 0.5 percent.

Hard currency reserves at EUR 10bn

Additionally, commercial banks' reserves stood at EUR 518.8mn.

The rise in the reserves was generated by the purchase of hard currency in the amount of EUR 105.9mn, while the buyers of the ex-federal MUP building contributed when they paid EUR 29.mn, also in August.

EUR 33.9mn was spent on the so-called old hard currency savings installments, while EUR 4.5mn went toward foreign creditors.

Official mean exchange rate last month went from RSD 79.6578 to 80.7607 for one euro, which meant that the domestic currency nominally depreciated by 0.5 percent.

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