NBS: Serbia’s gross foreign exchange reserves € 13.5 billion

Narodna banka Srbije, NBS
Source: N1

The preliminary data showed the gross foreign exchange reserves of the National Bank of Serbia (NBS) amounted to 13.5 billion Euro at the end of December, the central bank said, adding that in 2020, to maintain relative stability in the foreign exchange market, it sold 1.45 billion euros net.

At the end of December, foreign exchange reserves after deduction of banks’ foreign exchange reserves based on required reserves and other bases, amounted to 11.1 billion Euro.

The increase in December was realised in an environment in which the state further reduced its foreign currency liabilities based on loans and securities, which contributed to lowering Serbia’s public debt, the statement said.

It was mainly due to inflows from the privatisation of Komercijalna Banka of 395 million Euro and the activities of the NBS through the net purchase of foreign exchange on the domestic foreign exchange market.

In December, as in 2020, the Dinar’s value against the Euro was almost unchanged, NBS said, adding it bought 170 million Euro net on the interbank foreign exchange market at the end of the year.