International Information Centre for Balkan Studies

Serbian central bank says hard currency reserves increased

December 13, 2021
The National Bank of Serbia (NBS) said on Monday that the country’s gross hard currency reserves had increased by more than 175 million Euro in November.
A press release said that those reserves stood at 16.45 billion Euro at the end of November, 175.3 million Euro higher than a month earlier.
“The net hard currency reserves stood at 13.94 billion Euro at the end of November or 76 million Euro higher than a month earlier,” it added. The net hard currency reserves are calculated by deducting the mandatory hard currency reserves of banks from the gross reserves.
Net hard currency income in November stood at 40.1 million Euro from bank activities, 16.8 million from donations, 15.4 million from the sale of state bonds on the domestic financial market and 119.2 million Euro from hard currency management and other bases.
“The positive effect of market factors also affected the growth of the hard currency reserves totaling 231.8 million Euro, mainly because the Dollar grew stronger against the Euro by 3.1 percent,” the NBS said.
Source:  https://rs.n1info.com/english/news/serbian-central-bank-says-hard-currency-reserves-increased/

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