June 14 (SeeNews) - The foreign exchange (FX) reserves held by Serbia's central bank totalled 9.26 billion euro ($10.4 billion) at the end of May, down by 74.1 million euro from a month earlier, preliminary data from the National Bank of Serbia (NBS) showed.
Despite May usually being characterised by an increased outflow of FX reserves due to previously assumed legal obligations, this May saw the lowest reduction of the central bank's reserves thus far this year, the bank said in a statement on Monday.
The hard currency reserves are enough to cover about six months of imports of goods and services, the bank noted.
Net FX reserves, defined as FX reserves less banks’ required reserves and drawdowns from the International Monetary Fund (IMF), came in at 7.6 billion euro at the end of May, down from 7.8 billion euro at the end of April.
($=0.8884 euro)