NBS gross FX reserves hit record-high 29.29 bln euros at end-December

BELGRADE - National Bank of Serbia (NBS) gross FX reserves reached a record-high level of 29,294.5 mln euros at end-December 2024, the central bank of Serbia said this week.

The reserves climbed by 589.9 mln euros from a month earlier and by 4,385.4 mln euros from end-2023, it said in a statement.

"They covered 167.2 pct of money supply M1 and 7.4 months’ worth of the country’s imports of goods and services, which is more than twice the level prescribed by the adequacy standard," the NBS also said.