February 12 (SeeNews) - The foreign exchange (FX) reserves held by Serbia's central bank rose to 11.347 billion euro ($12.8 billion) at the end of January, up by 84.6 million euro on a monthly comparison basis, the National Bank of Serbia (NBS) said on Tuesday.
The increase in gross FX reserves in January was the result of the interventions of the central bank on the interbank FX market, NBS said in a statement.
The volume of trading on the interbank foreign exchange market in January decreased to 494.9 million euro, down by 179.8 million euro month-on-month.
The FX reserves held by NBS as at end-January were enough to cover about five months’ worth of imports of goods and services, NBS said.
In January, the dinar weakened nominally 0.2% against the euro, and the NBS intervened by selling 130 million euro on the interbank market in order to tame excessive daily volatility of the exchange rate.
Net FX reserves (total reserves less banks’ FX balances on account of required reserves and other requirements) came at 8.978 billion euro at end-January, up by 124 million euro in that month.
($ = 0.886818 euro)