The gross foreign exchange reserves of the National Bank of Serbia amounted to 16.45 billion euros at the end of December 2021, which is 1.4 million euros more than in November.
During 2021, Serbia’s foreign exchange reserves increased by 3.0 billion euros, which further strengthened the resilience of the domestic financial system to earthquakes from the international environment, the National Bank of Serbia announced.
Foreign exchange reserves at this level provide coverage of the money supply M1 of 137.8 percent and more than six months of imports of goods and services, which is twice the standard which determines the adequate level of coverage of imports of goods and services by foreign exchange reserves.
Net foreign exchange reserves (foreign exchange reserves less banks’ foreign exchange reserves on the basis of required reserves and other bases) amounted to EUR 13.7 billion at the end of December, and were EUR 2.6 billion more than at the end of 2020. November less by 231.5 million euros.
On the basis of foreign exchange required reserves, due to the usual activities of banks at the end of the year, there was an increase in gross foreign exchange reserves in the amount of 299.5 million euros, then on the basis of foreign currency loans in the net amount of 93.8 million euros. donation basis (55.3 million euros).
The increase in foreign exchange reserves was also contributed to by the efficient management of foreign exchange reserves and the positive net effect of market factors (a total of EUR 14.7 million).
These inflows compensated for net outflows based on NBS activities on the interbank foreign exchange market (EUR 280 million), based on payments of foreign currency liabilities of Serbia (in the total amount of EUR 130.2 million) and net outflows on other bases (EUR 51.7 million).
The volume of realized foreign exchange trade on the interbank foreign exchange market in December amounted to EUR 926.1 million and was EUR 224.9 million higher than in the previous month. In 2021, a total of 6.92 billion euros was realized in interbank trade.
In December, as in 2021, the value of the dinar against the euro remained almost unchanged, reports Tanjug.
The NBS sold 205 million euros net on the interbank foreign exchange market in December, mostly as a result of increased demand from energy importers for foreign exchange, while in 2021 the National Bank of Serbia contributed to a further increase in foreign exchange reserves and bought 645 million euros net.