By NMedjedov (Own work), via Wikimedia Commons
BELGRADE (Serbia), March 13 (SeeNews) - The foreign exchange (FX) reserves held by Serbia's central bank totalled 9.791 billion euro ($12.1 billion) at the end of February, up by 143.3 million euro on a monthly comparison basis, the National Bank of Serbia (NBS) said on Tuesday.
The rise of FX reserves in February is chiefly attributed to the acquisition of foreign currency by the NBS to increase the resilience of the country's economy to possible shocks from the international markets, the central bank said in a statement on Monday.
The volume of trading on the interbank foreign exchange market in February came in at 551.0 million euro, down by 331.8 million euro on the month.
The FX reserves held by NBS as at end-February were enough to cover about five months of imports of goods and services, NBS said.
In February, the value of the dinar against the euro rose by 0.6%.
Net FX reserves, defined as FX reserves less banks’ required reserves and drawdowns from theInternational Monetary Fund (IMF), came in at 7.986 billion euro at the end of February, up by 72 million euro compared with end-January.
($ = 0.810311 euro)