Dinar and foreign currency savings in Serbia reached very high levels during the pandemic, the National Bank of Serbia announced.
According to the latest data, dinar savings amount to almost 750 million euros, which is over five times more than at the end of 2012, since when it has been recording intensive growth. In the last eight years (since 2013), dinar savings have increased by an average of about 75 million euros a year, which is six times higher than in the period 2002-2012, about 12.5 million euros.
Dinar savings increased by 154 million euros last year (about 30%), and this year by 83 million euros (almost 13%). It should also be noted that in the past year (since October last year), savings in domestic currency increased by about 20%. Since 2013, dinar savings have grown by an average of 25% per year, which means that savings in domestic currency have been increasing rapidly, by a quarter on average every year for the last eight years.
According to the NBS, this shows that long-term monetary and financial stability gives citizens security to save in domestic currency, without fear that the real value of their deposits, ie the earnings they earn on the basis of dinar savings, will be reduced.
Although more moderate, the foreign currency savings of the population are also growing. According to the latest data, it reached 11.2 billion euros and, after an increase of 0.8 billion euros in 2019, this year it increased by 0.4 billion euros (3.7%), BiF reports.
