NBS foreign exchange reserves at EUR 10.29bn

The National Bank of Serbia's (NBS) foreign exchange reserves amounted to EUR 10.29 billion at the end of June.

Izvor: Tanjug

Monday, 13.07.2015.

15:35

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NBS foreign exchange reserves at EUR 10.29bn

The FX reserves/ M1 money supply ratio stood at 293 percent, which is enough to cover imports of goods and services for about seven months.

Larger inflows to FX reserves in June came from the disbursement of loans and grants (EUR 83.8 mln) and sale of euro-denominated government securities in the domestic financial market (EUR 73.8 mln).

Major outflows from FX reserves were registered on account of settlement of Serbia's liabilities to foreign creditors (EUR 116.4 million) and liabilities under frozen FX saving deposits (EUR 108.4 million).

Other sizable outflows were brought about by the redemption of the maturing euro-denominated government securities in the domestic market (EUR 75.0 million), withdrawal of banks' required reserves (EUR 22.4 million net) and repayment of debt to the IMF (EUR 22.1 million) under the 2009 stand-by arrangement.

Net FX reserves, defined as FX reserves less banks' required reserves in foreign currency and drawings from the IMF under the arrangement concluded in 2009, stood at EUR 8.12 billion, said the NBS statement.

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