NBS foreign currency reserves total 10.16 billion euros at the end of June

Source: eKapija Thursday, 12.07.2012. 15:14

At the end of June, hard currency reserves of the National Bank of Serbia, totaled some 10,16 billion EUR, the central bank announced today, adding that the majority of outflow was realized on the basis of NBS interventions in the interbanking foreign currency market totaling 107,6 million euros.

On the basis of the old foreign currency savings out of the hard currency savings a total of 75.2 million euros has been paid while on the basis of the settling debts to ino creditors, a total of 60.1 million euros.

During June, the majority of inflow was realized by setting aside hard currency reserves by banks in net total of 166, 6 million euros.

Apart from that, inflow was generated by RS securities sales denominated in euros totaling 140 million euros and on the loans and grants consumptions denominated in euros totaling 61.7 million euros.

At the end of June, net foreign currency reserves, i.e. reserves decreased by foreign currency assets of banks on the basis of obligatory reserves as well as for funds withdrawn from IMF totaled 5.42 billion euros.

NBS foreign currency reserves provide coverage of money mass (M1) of 438%, short-term debt totaling 2.416% and at the same time cover more than seven months of goods and services import.

In June, the scope of foreign currency trade at the inter banking foreign currency market totaled some 1, 82 billion euros and it was for 734 million euros higher than in the previous month. In the first six months this year, a total of 8.25 billion euros has been realized at the inter banking trading.

In order to decrease exaggerated daily oscillations of foreign currency exchange rate, during last month NBS sold a total of 107.6 million euros in the inter banking foreign currency market.

June saw nominal dinar strengthening against euro by 0.7% and as of beginning of this year dinar in comparison to euro decreased by 9.7%.

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