Sitemap

Serbia’s Foreign Exchange Reserves Increased by €111.7 Million in August

CorD Recommends

Neoplanta Celebrates New Life with Generous Gesture

In a touching display of community spirit,...

The Hermitage Days are Being Held Again in Belgrade in 2025

The Hermitage Days in Serbia represent a...

Increase In the Number of Transactions in the Austrian M&A market

The Austrian mergers and acquisitions (M&A) market...

A New Front in the Trade War

President Donald Trump’s decision to impose 25% tariffs on steel and aluminum imports is stirring fresh tensions, particularly with...

Swiss-Serbian Chamber Elects New Board

The General Assembly of the Swiss-Serbian Chamber of Commerce was held on 5th February 2025 at the premises of the...

Austrian Business Cooperation in Serbia

The annual survey by Advantage Austria on the business climate in Serbia for 2024 confirms the stability and growth...

IWC Opens Call for Proposals for Women Empowerment Projects in Serbia

Following the success of its 2024 Charity Bazaar, which raised over 4 million RSD, the International Women’s Club of...

Neoplanta Celebrates New Life with Generous Gesture

In a touching display of community spirit, Neoplanta, a renowned food company based in Novi Sad, once again marked...

Serbia’s gross foreign exchange reserves grew by €111.7 million in August, bringing the total to €28.225 billion, according to the National Bank of Serbia (NBS).

This marks the highest level of gross foreign exchange reserves since data has been tracked in this way (since 2000).

The NBS notes that this amount of foreign exchange reserves ensures coverage of the M1 money supply by 182.2% and covers 7.4 months of imports of goods and services, which is more than double the standard that determines an adequate level of import coverage by foreign exchange reserves.

Net foreign exchange reserves at the end of August amounted to €23.984 billion (gross reserves minus foreign currency reserves of banks based on mandatory reserves, obligations to the International Monetary Fund under arrangements, and other liabilities), also reaching their highest level since data tracking began.

Foto: NBS

Compared to the end of July, they increased by €71 million.

The largest inflows into foreign exchange reserves in August came from the NBS’s interventions in the domestic foreign exchange market, amounting to €235 million. Additional inflows came from foreign exchange reserve management, donations, and other sources, totaling €247.8 million.

Read more...

AgroBelgrade 2025 – A Hub for Innovation and Trade in Agriculture and Horticulture

Over 500 exhibitors will converge at the three-day AgroBelgrade 2025, bringing together the best of Eastern Europe’s fruit, vegetable, and vineyard industriesThe sixth edition...

Serbia and Israel Sign MoU on Telecommunications and Postal Services Cooperation

Serbia and Israel have signed a Memorandum of Understanding in Belgrade to strengthen cooperation between their respective ministries in the fields of telecommunications and...

These inflows were more than sufficient to offset the outflows from foreign exchange reserves, which included the net repayment of the state’s foreign currency loans (€134.6 million), maturing foreign currency securities issued on the domestic financial market (€116 million), and other outflows totaling €121.6 million.

The increase in foreign exchange reserves was also influenced by the positive net effect of market factors amounting to €1.1 million, primarily due to a 3.6% rise in the price of gold, while the weakening of the US dollar against the euro by around 2.3% on international markets had a negative impact.

Related Articles

Jorgovanka Tabaković, Governor of the National Bank of Serbia

We’re Advancing Steadily Towards Our Goal

The improving of the country’s external position as a result of a stronger export performance and higher net FDI inflows, as well as the...

Serbia Marks 150 Years of the Dinar as National Currency

The National Bank of Serbia (NBS) has announced the celebration of a significant milestone in the country's economic history - the 150th anniversary of...

Darko Stamenković, National Bank Of Serbia

Companies Are Turning Increasingly To Financial Leasing

The growth of financial leasing demonstrates how companies are increasingly recognising the advantages of this financing model and its impact on reducing costs, improving...

Restoration of Direct Payments between Montenegro, Serbia, and Bosnia Set for November

Direct financial transactions between Montenegro, Serbia, and Bosnia and Herzegovina are poised to recommence in November after a gap of 16 years. The move,...

Jorgovanka Tabaković, Governor Of The National Bank Of Serbia

Combating Inflation Is A Priority

We believe that FDI inflows will reach around four billion euros by year’s end. This is good news, as it shows that investors recognise...

Fitch Agency Affirms Serbia’s Credit Rating at BB+

In a pivotal move, the esteemed Fitch agency has upheld Serbia's credit rating at a resilient BB+, which brings the nation tantalizingly close to...

Highest Level Of Gross Foreign Exchange Reserves Recorded In National Bank of Serbia

Gross foreign exchange reserves of the National Bank of Serbia at the end of March 2023 amounted to 21.38 billion euros, which is the...

NBS: Serbia’s New Record In Attracting Foreign Direct Investments

In 2022, Serbia had a new record year with inflows of foreign direct investments, between 4.3 and 4.4 billion euros, announced the National Bank...