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Serbian c-bank's FX reserves rise m/m in November

Serbian c-bank's FX reserves rise m/m in November Photo: Srbija Danas/Sasa Dzambic

BELGRADE (Serbia), December 14 (SeeNews) - The foreign exchange (FX) reserves held by Serbia's central bank amounted to 16.45 billion euro ($18.56 billion) at the end of November, marking a 175.3 million euro rise compared to the previous month, the National Bank of Serbia (NBS) said.

The registered increase in FX reserves can mostly be attributed to to the activity of NBS regarding the FX reserves management and to the positive effect of market factors caused by the strengthening of the dollar against the euro by 3.1%, the NBS said in a statement on Monday.

The volume of trading on the interbank FX market climbed to 701.2 million euro in November, up by 107.7 million euro on a monthly basis, the central bank said.

The dinar remained virtually unchanged against the euro in November, and the NBS intervened by selling 110 million euro on the interbank market to ensure stability on the FX market, the central bank noted.

Net FX reserves, which don't include banks' FX balances on account of required reserves and other requirements, came in at 13.94 billion euro at the end of November, up by 76 million euro compared to the October reading.

($ = 0.886 euro)

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