NBS: FX reserves of Serbia at record EUR 30.5 billion

Rising by EUR 893 million from June, gross NBS FX reserves reached their highest end-of-month level of EUR 30.5 billion in July, the NBS Governor’s Cabinet announced today.

They covered 168.3% of money supply M1 and 7.0 months’ worth of the country’s import of goods and services, which is more than twice the level prescribed by the relevant adequacy standard.

At end-July, gold reserves stood at record 54,791.1 kg and were valued at EUR 6.16 billion, accounting for 20.2% of gross FX reserves.

During the month, gold reserves increased by 225.8 kg, as a result of the purchase of 18 gold bars in the domestic market from Serbia Zijin Copper.

During 2026, 2.3 tons of gold were purchased, but the value of gold reserves decreased by EUR 32.0 million because of the impact of market factors (a decrease in the value of a fine ounce in US dollars by around 6.5%, and the counterbalancing appreciation of the US dollar against the euro by around 2.0% in the international market).

Narodna banka Srbije Beograd

Serbia Zijin Copper doo Bor

National Bank of Serbia

NBS

Serbia Zijin Copper

gross FX reserves

gold reserves