Q:
A:
Serbia’s foreign exchange reserves stand at €10bln
Belgrade,
4 October 2007
Serbia’s total foreign exchange reserves amounted to €10 billion at the end of September, or $14.2 billion.
Foreign exchange reserves of the National Bank of Serbia (NBS) rose in September by €10.7 million to reach €9.507 billion. In dollar terms, end-September foreign exchange reserves came to $13.46 million, resulting in the ratio of foreign exchange reserves over money supply of 344%.
Together with foreign exchange reserves of commercial banks which equalled €526.3 million on the last day of September, the country’s overall foreign exchange reserves reached €10.03 billion or $14.2 billion.
The main contribution to September growth in NBS foreign exchange reserves came from inflow in respect of net purchase of foreign cash in the amount of €59.8 million, which is €46.1 million less than in August.
€71.7 million was paid out from foreign exchange reserves for the settlement of obligations to foreign creditors, while €9.4 million was used to cover obligations in respect of frozen foreign currency savings and “economic revival loan” action.
In September, the official median exchange rate of the dinar against the euro ranged between RSD 78.1896 and €79.9571, which is appreciation of the dinar by 1.3% against the euro in nominal terms.
During September, the NBS traded daily in the interbank foreign exchange market by selling to banks a portion of the foreign exchange inflow originating from purchases of foreign exchange from licensed exchange dealers. The NBS sold a total of €20 million to banks and no Interbank Foreign Exchange Market sessions were organised.
Total volume of direct interbank trading outside the IFEM session came to €1.86 billion, which is €506.5 million less than in August.
In the first nine months of 2007, direct interbank trading reached €15.1 million or nearly five times more than in the same period a year earlier.
Together with foreign exchange reserves of commercial banks which equalled €526.3 million on the last day of September, the country’s overall foreign exchange reserves reached €10.03 billion or $14.2 billion.
The main contribution to September growth in NBS foreign exchange reserves came from inflow in respect of net purchase of foreign cash in the amount of €59.8 million, which is €46.1 million less than in August.
€71.7 million was paid out from foreign exchange reserves for the settlement of obligations to foreign creditors, while €9.4 million was used to cover obligations in respect of frozen foreign currency savings and “economic revival loan” action.
In September, the official median exchange rate of the dinar against the euro ranged between RSD 78.1896 and €79.9571, which is appreciation of the dinar by 1.3% against the euro in nominal terms.
During September, the NBS traded daily in the interbank foreign exchange market by selling to banks a portion of the foreign exchange inflow originating from purchases of foreign exchange from licensed exchange dealers. The NBS sold a total of €20 million to banks and no Interbank Foreign Exchange Market sessions were organised.
Total volume of direct interbank trading outside the IFEM session came to €1.86 billion, which is €506.5 million less than in August.
In the first nine months of 2007, direct interbank trading reached €15.1 million or nearly five times more than in the same period a year earlier.
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