NBS foreign exchange reserves at EUR 10.65bn
BELGRADE -- At the end of November the foreign exchange (FX) reserves of the National Bank of Serbia (NBS) stood at EUR 10.65 billion.
The reserves covered money supply (M1) by 432 percent and more than seven months of imports of goods and services.
The main contribution to November growth in NBS foreign exchange reserves came from inflow in respect of the sale of Republic of Serbia securities on the international and domestic financial markets to the amount of EUR 663 million and through disbursement of loans and donations to the amount of EUR 30.3 million.
In November, EUR 104.9 million was paid out from the FX reserves for servicing the debt to the International Monetary Fund (IMF).
Banks withdrew their holdings of required reserves kept in accounts with the NBS to the net amount of EUR 74.8 million, while EUR 16.1 million was paid for the settlement of obligations to foreign creditors and EUR 3.7 million for servicing old foreign currency savings.
At the end of November, the net FX reserves, or foreign exchange reserves minus banks' reserve requirement on foreign-currency deposits and money borrowed from the IMF, stood at EUR 6.67 billion.
November trade in foreign exchange in the Interbank Foreign Exchange Market (IFEM) amounted to EUR 1.65 billion, EUR 232.3 million less than in the month before. From the beginning of the year until the end of November, the total volume of trade in the IFEM amounted to EUR 16.1 billion.
In November, the dinar strengthened against the euro by 0.6 percent in nominal terms, and the NBS did not intervene in the IFEM.
December 7, 2012 | 16:52 | Source: B92, Beta, Tanjug | Comments: (24) | Send comment
KRASNODAR -- Construction of South Stream gas pipeline has officially been launched at the Russkaya compressor station on Russia’s Black Sea coast on Friday.
December 7, 2012 | 17:24 | Source: Tanjug | Comments: (0) | Send comment
BELGRADE -- Serbia will be earning EUR 200mnannually from the South Stream gas pipeline transit fees, special adviser to the Ministry of Energy Ljubomir Aksentijević says.
December 7, 2012 | 18:36 | Source: Tanjug | Comments: (2) | Send comment
VRANJE -- Serbian President Tomislav Nikolić stated on Friday that the government will help the Vranje-based company SIMPO overcome the current crisis because.
December 6, 2012 | 21:12 | Source: Tanjug | Comments: (4) | Send comment
BELGRADE -- Serbia's economic growth in 2013 will be between 1.5 and 1.8 percent, and it is unlikely that it will reach two percent as it was officially predicted.
December 6, 2012 | 15:55 | Source: Tanjug | Comments: (0) | Send comment
BELGRADE -- Minister of Finance and Economy Mlađan Dinkić said Thursday that 2013 would be crucial for the country's economy.
December 5, 2012 | 21:43 | Source: Tanjug | Comments: (0) | Send comment
BELGRADE -- Serbia and Russia signed in Belgrade on Wednesday an agreement related to the competition protection policy.
December 5, 2012 | 14:24 | Source: B92, Tanjug | Comments: (2) | Send comment
BELGRADE -- Miroslav Mišković’s Delreal company will give up on disputed land in New Belgrade after Bauhaus company terminated their contract.
December 5, 2012 | 09:50 | Source: Tanjug | Comments: (0) | Send comment
BELGRADE -- The Serbian dinar continued to weaken against the euro for the third day in a row on Wednesday, the National Bank of Serbia (NBS) has released.
December 10, 2012 | 13:38 | Source: Tanjug | Comments: (9) | Send comment
BELGRADE -- The Serbian government on Monday borrowed EUR 25mn from the Fund for Arab Economic Development (KFAED) - the money that will be used by Serbian Railways.
December 5, 2012 | 18:35 | Source: B92 | Comments: (0) | Send comment
BELGRADE -- The EBRD has announced a new EUR 30mn five-year senior loan to Banca Intesa Belgrade (BIB) intended for its private SME clients.