At the end of October, the gross foreign exchange reserves of the National Bank of Serbia amounted to 16.3 billion euros, the National Bank of Serbia announced.
Compared to the end of October 2020, gross foreign exchange reserves increased by 3.2 billion euros. Compared to the previous month, foreign exchange reserves decreased by524.7 million euros. At the end of October, net foreign exchange reserves (foreign exchange reserves reduced by banks’ foreign exchange assets on the basis of required reserves and other bases) amounted to 13.9 billion euros, which is 387.1 million euros less than at the end of the previous month.
The decrease in foreign exchange reserves in October is primarily the result of the government’s net deleveraging on the basis of foreign currency loans and settlement of other foreign currency liabilities (in the total amount of 317.8 million euros), then the activities of the National Bank of Serbia to preserve relative stability of 115 million euros), as well as the usual activities of banks on the basis of foreign exchange required reserves (net outflow of 99.9 million euros), the NBS said in a statement. Inflows into foreign exchange reserves based on donations, efficient management of foreign exchange reserves and other bases were higher than other outflows by eight million euros.
In the interbank foreign exchange market in October, foreign exchange turnover amounted to 593.6 million euros and was 15.9 million euros higher than in the previous month. In the first ten months of this year, a total of 5.3 billion euros was realized in interbank trade.
In October, as since the beginning of this year, the value of the dinar against the euro is almost unchanged. The National Bank of Serbia sold a net of 140 million euros on the interbank foreign exchange market in October. Observed since the beginning of the year, the National Bank of Serbia bought 960 million euros net in order to maintain the relative stability of the dinar exchange rate against the euro, Dnevnik reports.
