News

Serbian December FX reserves at 16.45 bln euros

Friday, 14. Jan 2022.

National Bank of Serbia (NBS) gross FX reserves amounted to 16.45 bln euros at end-December 2021 and were up by 1.4 mln euros relative to November.
BELGRADE - National Bank of Serbia (NBS) gross FX reserves amounted to 16.45 bln euros at end-December 2021 and were up by 1.4 mln euros relative to November.

"Overall in 2021, FX reserves gained 3.0 bln euros, reinforcing the resilience of the domestic financial system to external shocks," the NBS said in a statement.

"This level of FX reserves covers 137.8 pct of money supply (M1) and more than six months’ worth of the country’s import of goods and services, which is twice the level prescribed by the adequacy standard.

Net FX reserves (FX reserves less banks’ FX balances on account of required reserves and other requirements) equalled 13.7 bln euros at end-December, up by 2.6 bln euros y-o-y and down by 231.5 mln euros m-o-m.

December inflows to FX reserves came from the usual bank activity in respect of FX required reserves (299.5 mln euros), FX loans (93.8 mln euros net) and grants (55.3 mln euros net).

An additional impetus came from the efficient FX reserves management and a positive effect of market factors (14.7 mln euros in total).

These inflows were sufficient to offset the net outflows under NBS activity in the IFEM (280.0 mln euros), settlement of government FX liabilities (130.2 mln euros in total) and other grounds (51.7 mln euros).

December trading volumes in the IFEM amounted to 926.1 mln euros, up by 224.9 mln euros on the month before. In 2021, interbank trading volumes reached a total of 6,923.3 mln euros," the central bank also said.


Source: Tanjug

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