BELGRADE (Serbia), October 11 (SeeNews) – The foreign exchange (FX) reserves held by Serbia's central bank rose to 13.295 billion euro ($14.689 billion) at the end of September, up by 195.5 million euro on a monthly comparison basis, the National Bank of Serbia (NBS) said on Friday.
The increase in gross FX reserves in September was mostly the result of NBS activities interventions on the domestic FX market, the central bank said in a statement.
The volume of trading on the IFEM in September decreased to 385.9 million euro, down by 233.2 million euro month-on-month, the NBS said.
The FX reserves held by NBS as at end-September were enough to cover about six months’ worth of imports of goods and services, NBS said.
In September, the dinar appreciated 0.2% against the euro, and the NBS intervened by buying 400 million euro on the interbank market in order to tame excessive daily volatility of the exchange rate.
Net FX reserves (total reserves less banks’ FX balances on account of required reserves and other requirements) amounted to 11.184 billion euro at end-September, up 123 million euro on the month.
($ = 0.905088 euro)