At the end of January, the gross foreign exchange reserves of the National Bank of Serbia amounted to EUR 13.60 billion, which is EUR 111.3 million more than in December 2020.
Foreign exchange reserves at this level provide coverage of the money supply M1 of 135 percent and more than six months of imports of goods and services, which is twice the standard which determines the adequate level of coverage of imports of goods and services with foreign exchange reserves, the National Bank of Serbia announced.
The increase in gross foreign exchange reserves in January, as they add, is the result of net inflows in the total amount of EUR 41.7 million based on efficient management of foreign exchange reserves and other bases. Donations in the amount of EUR 36.3 million and a positive net market effect in the amount of EUR 64.5 million also contributed to the increase in foreign exchange reserves. These inflows were more than sufficient to cover outflows from foreign exchange reserves due to the usual activities of banks on the basis of foreign exchange required reserves and on other bases (total net EUR 44.2 million).
The volume of realized foreign exchange trade on the interbank foreign exchange market amounted to EUR 576.9 million in January and was EUR 116.6 million lower than in the previous month.
The value of the RSD against the EUR was almost unchanged in January, and the National Bank of Serbia sold RSD 105 million net on the interbank foreign exchange market in order to maintain the relative stability of the RSD against the EUR on the domestic foreign exchange market.
