Foreign current reserves of NBS reduced by 166.8m EUR in January

- The foreign currency reserves of the National Bank of Serbia (NBS) were reduced by 166.8m EUR in January, and they amounted to 7.99 billion EUR at the end of that month - the Central Bank announced.

According to the announcement, that amount does not include the money from the sale of "Petroleum Indistry of Serbia" (NIS).

According to the data provided by NBS, the sale of 381.3m EUR in the interbanking foreign currency market, for the sake of alleviation of much too big daily oscillations of the national currency and normal functioning of financial market, was the main reason for the reduction of foreign currency reserves of the central bank.

The incomes from purchase amounted to 23.6m EUR, which is 72.7m EUR less than in the previous month.

Expressed in US dollars, NBS‘ foreign currency reserves amounted to 10.32 billion, which provides the coverage of money mass (M1) of 353%.

With the foreign currency reserves of business banks, which amounted to 666.9m EUR on the last day of January, total foreign currency reserves of Serbia reached the amount of 8.66 billion EUR, that is, 11.18 billion USD.