Serbian central bank's FX reserve at EUR 10.69bn

BELGRADE The foreign exchange (FX) reserve of the National Bank of Serbia (NBS) was at around EUR 10.69 billion at the end of August. This is some EUR 30 million less than the previous month, the NBS said on Thursday. Serbian central bank's FX reserve at EUR 10.69bn The size of the reserve covers the money supply (M1) by 346 percent and covers more than 7 months of imports. The largest inflow to FX reserves during August came from credit disbursement and grants (EUR 41.1 million), specifically from the European Investment Bank (EUR 29.6 million) and the Council of Europe Development Bank (EUR 11.5 million). Other inflows came from allocations under FX required reserves (EUR 39.9 million, net) and the sale of euro-denominated RS securities in the domestic financial market (EUR 25.8 million). The largest outflow from FX reserves was triggered by the repayments to the IMF (EUR 100.2 million). Other outflows were generated by the settlement of obligations to foreign creditors (EUR 60.4 million), payout of maturing euro-denominated RS securities (EUR 40.0 million) and servicing frozen FX savings (EUR 12.2 million). Net FX reserves, defined as FX reserves less banks’ required reserves and drawings from the IMF, came at EUR 6,991.0 million at the end of August. The trading volume in the international foreign exchange market (IFEM) reached EUR 615.1 million, down EUR 61.1 million month-on-month. In the year to August, trading volumes in the IFEM reached EUR 6,557.0 million. In August, the dinar depreciated against the euro by 0.5 percent in nominal terms and the NBS did not intervene in the IFEM. Tanjug

Serbian central bank's FX reserve at EUR 10.69bn

The size of the reserve covers the money supply (M1) by 346 percent and covers more than 7 months of imports.

The largest inflow to FX reserves during August came from credit disbursement and grants (EUR 41.1 million), specifically from the European Investment Bank (EUR 29.6 million) and the Council of Europe Development Bank (EUR 11.5 million).

Other inflows came from allocations under FX required reserves (EUR 39.9 million, net) and the sale of euro-denominated RS securities in the domestic financial market (EUR 25.8 million).

The largest outflow from FX reserves was triggered by the repayments to the IMF (EUR 100.2 million).

Other outflows were generated by the settlement of obligations to foreign creditors (EUR 60.4 million), payout of maturing euro-denominated RS securities (EUR 40.0 million) and servicing frozen FX savings (EUR 12.2 million).

Net FX reserves, defined as FX reserves less banks’ required reserves and drawings from the IMF, came at EUR 6,991.0 million at the end of August.

The trading volume in the international foreign exchange market (IFEM) reached EUR 615.1 million, down EUR 61.1 million month-on-month.

In the year to August, trading volumes in the IFEM reached EUR 6,557.0 million.

In August, the dinar depreciated against the euro by 0.5 percent in nominal terms and the NBS did not intervene in the IFEM.