Foreign currency reserves of NBS amounted to 10.65bn EUR in late January

- The foreign currency reserves of the National Bank of Serbia (NBS) were increased by 44.4m EUR in January 2010 and reached the amount of 10.65bn EUR at the end of the month - the central bank announced.

According to the announcement, withdrawal of 155.2m EUR from the loan of the World Bank and the European Investment Bank and 36.4m EUR that were set aside by the banks for mandatory foreign currency reserves affected the growth the most.

Expressed in US dollars, foreign currency reserves amounted to 14.84bn USD on the last day of January, which provides the coverage of money mass (M1) of 442%.

Total of 6.3m EUR was paid from the foreign currency reserves of the National Bank of Serbia in January for settlement of obligations toward foreign creditors.

Total foreign currency reserves of Serbia reached 11.93bn EUR (16.6bn USD) at the end of January.