NBS foreign exchange reserves in September amount to EUR 9.55 billion

Foreign exchange reserves of the National Bank of Serbia amounted to EUR 9,55 billion at the end of September 2016, which is EUR 32.3 million lower than in August, the NBS reported.

The amount is sufficient to cover 211% of the money supply (M1) or six months’ worth of the imports of goods and services.

Net FX reserves (total reserves less banks’ FX balances on account of required reserves and other requirements) came at EUR 7,94 billion, down by EUR 20 million compared to August.

Inflows amounting to a total of EUR 148.8 million on account of the NBS interventions by purchasing foreign exchange and the Republic of Serbia's net borrowing in the domestic financial market through the purchase of foreign currency securities covered most of the outflows related to net loan repayment (EUR 167 million).

An inflow of EUR 48.4 million was recorded on account of FX reserves management in difficult investment conditions in the international market as well as from other sources. Such inflow was sufficient to compensate for a major portion of outflows leading to net reduction in banks’ FX required reserves, as well as to compensate for the servicing of liabilities in respect of frozen FX savings (EUR 62.5 million).

The interbank foreign exchange market trading volumes reached EUR 306.2 million in September, down by EUR 60.1 million from the previous month. In the first nine months of 2016, the volume of interbank trading totaled EUR 4,79 billion.

Narodna banka Srbije Beograd

National Bank of Serbia foreign exchange reserves

NBS

FX

foreign exchange reserves

foreign exchange savings

interbank foreign exchange market

IFEM