At the end of May this year, the gross foreign exchange reserves of the National Bank of Serbia (NBS) amounted to 14.18 billion euros, which is 184.1 million euros more than in April, the NBS announced.
Foreign exchange reserves at that level provide coverage of the money supply M1 of 134 percent and more than six months of imports of goods and services, which is twice as much as the standard.
At the end of May, net foreign exchange reserves (foreign exchange reserves reduced by banks’ foreign exchange assets on the basis of required reserves and other bases) amounted to 11.7 billion euros, which is 108 million euros more than at the end of the previous month.
Net inflows into foreign exchange reserves during May on the basis of net purchases of foreign exchange on the domestic foreign exchange market (45 million euros), as well as donations, foreign exchange reserves management and other bases (173 million euros in total) were more than sufficient to cover net outflows on maturity foreign exchange swaps (a total of 86 million euros), as well as foreign exchange required reserves due to the usual activities of banks, net deleveraging of the state on the basis of foreign currency loans and securities and other bases (a total of 51.4 million euros).
The increase in foreign exchange reserves in May was additionally influenced by the positive effect of market factors in the net amount of 103.5 million euros, the central bank pointed out.
The volume of realized foreign exchange trade on the interbank foreign exchange market in May amounted to 462.4 million euros and was 156.5 million eurps lower than in the previous month.
In the first five months of this year, a total of around 2.6 billion euros was realized in interbank trade.
In May, as since the beginning of this year, the value of the dinar against the euro is almost unchanged. The NBS bought 45 million euros net on the interbank foreign exchange market in May, and since the beginning of the year, in order to maintain relative stability on the foreign exchange market, it has sold five million euros net, N1 reports.
