Central bank: FX reserves up by EUR 1.18 billion

Foreign exchange reserves of the National Bank of Serbia (NBS) amounted to EUR 11.68 billion at the end of February.

Izvor: Tanjug

Monday, 11.03.2013.

16:07

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BELGRADE Foreign exchange reserves of the National Bank of Serbia (NBS) amounted to EUR 11.68 billion at the end of February. This was an increase of EUR 1.18 billion compared to the previous month, the central bank has announced. Central bank: FX reserves up by EUR 1.18 billion This covers M1 money supply by 434 percent and around eight months of imports of goods and services. The largest inflow to FX reserves came from the sale of government securities in the international and domestic financial markets (EUR 1.1 billion). Other inflows stemmed from the allocation of banks’ FX required reserves (EUR 61 million, net) and credit disbursement and grants (EUR 12.7 million). The largest outflow from FX reserves during the month was registered in respect of repayment of debt to the International Monetary Fund (EUR 100.2 million). In addition, EUR 55.2 million was paid out for the settlement of due euro-denominated government securities and EUR 21.6 million for the settlement of liabilities to foreign creditors. Net FX reserves, defined as FX reserves less banks’ required reserves and drawings from the IMF, totaled EUR 7.64 million. Trading volumes in the interbank foreign exchange market amounted to EUR 683.9 million, down by EUR 471.4 million from January. Overall in the first two months of the year, interbank trading volumes came at EUR 1.84 million. The dinar appreciated against the euro by a nominal 0.1 percent in February, and the NBS intervened by buying EUR 5 million in the interbank foreign exchange market to ease excessive daily volatility of the exchange rate. Tanjug

Central bank: FX reserves up by EUR 1.18 billion

This covers M1 money supply by 434 percent and around eight months of imports of goods and services.

The largest inflow to FX reserves came from the sale of government securities in the international and domestic financial markets (EUR 1.1 billion).

Other inflows stemmed from the allocation of banks’ FX required reserves (EUR 61 million, net) and credit disbursement and grants (EUR 12.7 million).

The largest outflow from FX reserves during the month was registered in respect of repayment of debt to the International Monetary Fund (EUR 100.2 million).

In addition, EUR 55.2 million was paid out for the settlement of due euro-denominated government securities and EUR 21.6 million for the settlement of liabilities to foreign creditors.

Net FX reserves, defined as FX reserves less banks’ required reserves and drawings from the IMF, totaled EUR 7.64 million.

Trading volumes in the interbank foreign exchange market amounted to EUR 683.9 million, down by EUR 471.4 million from January. Overall in the first two months of the year, interbank trading volumes came at EUR 1.84 million.

The dinar appreciated against the euro by a nominal 0.1 percent in February, and the NBS intervened by buying EUR 5 million in the interbank foreign exchange market to ease excessive daily volatility of the exchange rate.

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