Serbia's gross FX reserves decreases in May
Image by Bobica10 / Shutterstock.com
National Bank of Serbia gross foreign exchange (FX) reserves amounted to EUR 13.9 billion at end-May, the central bank has said.
In a statement the bank said, the reserves had covered "128% of money supply (M1) and five months' worth of the country's import of goods and services, which is almost twice the level prescribed by the adequacy standard."
Net FX reserves came at EUR 11,293.2 million, having decreased by EUR 245.7 million from the month before.
Outflows from FX reserves were driven primarily by the net loan debt repayment by the government (EUR 128.1 million) and payment of other liabilities (EUR 37.6 million), it said.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.