NBS’ foreign currency reserves at end of February – 8.24 billion EUR

- The foreign currency reserves of the National Bank of Serbia (NBS) were increased by 241.9m EUR in February, and they amounted to 8.24 billion EUR at the end of the month – the central bank announced today (March 17, 2009).

According to the announcement, the sale of 51% of stocks of the Petroleum Industry of Serbia (NIS) for 400m EUR had the greatest influence on the growth of NBS’ foreign currency reserves.

The incomes from the purchase of foreign money in February amounted to 12.6m EUR, which is 11m EUR less than in January.

NBS sold 175.1m EUR in the interbanking foreign currency market in February.

The foreign currency reserves of NBS amounted to 10.48 billion USD at the end of February, which ensures the coverage of money mass (M1) of 340%.

According to NBS’ announcement, overall foreign currency reserves of Serbia have reached the amount of 8.99 billion EUR, while the foreign currency reserves of the banks amounted to 755.2m EUR on the last day of February.

Narodna banka Srbije Beograd

NIS a.d. Novi Sad