Serbian central bank says hard currency reserves increased

NEWS 11.05.2022 17:15
Source: Unsplash/Lena Balk

The National Bank of Serbia (NBS) said on Wednesday that the country’s gross hard currency reserves totaled 14.11 billion Euro at the end of April, an increase of 182.7 million over the previous month.

The net hard currency reserves totaled 11.54 billion Euro and were 38.8 million lower than a month earlier. The drop in the net reserves was mainly due to NBS activities totaling 177 million Euro on the inter-banking FX market which the bank said were needed to maintain stability on the FX market and the outflow due to bank activities (133.9 million), repayment of state loans (108.4 million) and payment of other dues (143.6 million). The NBS sold 155 million Euro on the FX market in April bringing the total sales for the year to 2.27 billion.

The NBS said that hard currency income totaled 92.4 million Euro.

Trade on the FX market totaled 677.5 million Euro in April and was 155 million lower than a month earlier. FX trade totaled 2.3 billion Euro in the first four months of the year, the NBS said.

The NBS said that the Dinar grew nominally stronger against the Euro by 0.1 percent after weakening by 0.1 percent since the start of the year.