November 13 (SeeNews) - The foreign exchange (FX) reserves held by Serbia's central bank rose to 11.55 billion euro ($13 billion) at the end of October, up by 377.9 million euro on a monthly comparison basis, the National Bank of Serbia (NBS) said on Tuesday.
The increase in gross FX reserves in October was the result of the rise in all major categories, with inflows significantly exceeding outflows, the central bank said in a statement.
The volume of trading on the interbank foreign exchange market in October increased to 590.5 million euro, up by 101.7 million euro month-on-month.
The FX reserves held by NBS as at end-October were enough to cover about six months’ worth of imports of goods and services, NBS said.
In October, the dinar strengthened nominally 0.1% against the euro, and the NBS intervened by selling 30 million euro on the interbank market in order to tame excessive daily volatility of the exchange rate.
Net FXreserves (total reserves less banks’ FX balances on account of required reserves and other requirements) came at 9.623 billion euro at end-October, up by 304 million euro in that month.
($ = 0.887745 euro)