NBS: Gross FX Reserves in May Increased by EUR 531.4 Million

The gross FX reserves of the National Bank of Serbia (NBS) at the end of May 2023 amounted to EUR 22.08 billion, which is the highest level of gross FX reserves at the end of any month since the data started being recorded this way. In May, the gross FX reserves were increased by EUR 531.4 million, as said on the NBS website.

This level of FX reserves ensures a coverage of the M1 money supply of 180% and 5.8 months of the import of goods and services, which is nearly twice as much as the standard that determines an adequate coverage of the import of goods and services with FX reserves.

– The net FX reserves also recorded the highest level at the end of the month and, at the end of May, amounted to EUR 18.12 billion. Compared to the end of April, they were higher by EUR 479.7 million – the NBS adds.

Narodna banka Srbije Beograd

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