Gross foreign exchange reserves of the National Bank of Serbia at the end of July 2023 amounted to 23.134 billion euros, which is the highest level of gross foreign exchange reserves at the end of the month since the data has been monitored in this way, the National Bank of Serbia announced.
In July, gross foreign exchange reserves increased by 549.2 million euros. Net foreign exchange reserves amounted to EUR 18.937 billion, which is also the highest level of net foreign exchange reserves at the end of the month.
Compared to the end of June, they were 757.9 million euros more. The increase in gross foreign exchange reserves in July is primarily the result of interventions by the National Bank of Serbia by purchasing foreign currency on the domestic foreign exchange market (inflow of EUR 775.0 million). Inflows were realized on the basis of management of foreign exchange reserves, donations, as well as on other grounds in the total amount of 144.1 million euros.
The increase in foreign exchange reserves in July was additionally influenced by the positive effect of factors on the international market in the net amount of 25.7 million euros, and to the greatest extent the result of the increase in the price of gold by about 3.1 percent, while the weakening of the dollar in the compared to the euro by about 1.2 percent on the international market.
The volume of realized foreign exchange trade on the interbank foreign exchange market in July amounted to EUR 555.7 million and was EUR 184.6 million less than in the previous month. In the first seven months of this year, a total of EUR 4,584.1 million was realized in interbank trade.
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