Serbian central bank reports higher hard currency reserves

NEWS 11.10.202112:37
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The National Bank of Serbia (NBS) said that its gross hard currency reserves stood at 16.8 billion Euro at the end of September, 1.2 billion more than in August.

A press release said that the net hard currency reserves at the end of September totaled 14.2 billion Euro, a rise of just over a billion Euro from the previous month. It said that the growth of the reserves was primarily due to two Eurobond issues totaling 1.7 billion Euro.

Serbia issued green Eurobonds for a total value of a billion Euro on the international market for the first time along with 15 year Eurobonds for a nominal total value of 750 million Euro. The NBS also brought in 165 million Euro in hard currency from the domestic FX market and reported income of 199.6 million Euro from other sources. According to the press release, the income was enough to cover 870 million Euro in loan repayments and other dues.

Trade on the inter-banking FX market totaled 577.7 million Euro or 26.6 million more than a month earlier with trade totaling 4.7 billion Euro in the first nine months of the year.