January 12 (SeeNews) - (Corrects errors in paragraphs 1, 4 and 5 of SeeNews story "Serbian c-bank's FX reserves increase in Dec" dated Jan 11.
The foreign exchange reserves held by Serbia's central bank amounted to 19.416 billion euro ($20.890 billion) at the end of December, up by 2,148.4 million euro compared to a month earlier, the central bank said.
The December increase in gross forex reserves is attributable to the inflows from the Abu Dhabi Development Fund and the central bank's activity on the domestic FX market, the central bank said in a statement on Wednesday.
The foreign exchange reserves include the first tranche of funding under the standby arrangement approved by the IMF in December, totalling 985.6 million euro. The volume of trading on the interbank FX market increased to 998.3 million euro in December, up 110.7 million euro on the previous month.
To maintain relative stability of the exchange rate, and respond to more appreciation pressures, the NBS bought 550 million euro net in the IFEM in December, while buying in the year as a whole totalled 1 billion euro net.
Net FX reserves (total reserves less banks' FX balances on account of required reserves and other requirements) amounted to 15.427 billion euro at the end of December, up by 1.207 million euro from the end of November.
$ = 0.9295 euro