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Serbian c-bank's FX reserves increase in July

Author Radomir Ralev
Serbian c-bank's FX reserves increase in July Source: National Bank of Serbia

BELGRADE (Serbia), August 12 (SeeNews) - The foreign exchange (FX) reserves held by Serbia's central bank amounted to 15.023 billion euro ($15.455 billion) at the end of July, up by 247.1 million euro compared to a month earlier, the central bank said.

The increase in FX reserves can be attributed to central bank activities in the local market, as well as reserves management, grants and inflows from other sources, the National Bank of Serbia (NBS) said in a statement earlier this week.

The volume of trading on the interbank FX market rose to 1.064 billion euro in July, up by 148.3 million euro compared to the previous month.

In July, the dinar stayed unchanged against the euro. The NBS intervened by buying 435 million euro on the interbank market to tame excessive daily volatility of the exchange rate.

Net FX reserves (total reserves less banks' FX balances on account of required reserves and other requirements) amounted to 12.334 billion euro at end-July, down by 427.2 million euro from the end of June.

($ = 0.971836 euro)