End-September NBS gross FX reserves at 24.182 bln euros

BELGRADE - National Bank of Serbia (NBS) FX reserves totalled 24.182 bln euros at end-September, reaching their highest end-of-month level since records began in 2000, the central bank says.

In September, gross FX reserves rose by 558.8 mln euros compared to the previous month.

"They covered 180.6 pct of money supply M1 and 6.5 months’ worth of the country’s imports of goods and services, which is more than twice the level prescribed by the adequacy standard.

Net FX reserves (gross FX reserves less banks’ FX balances on account of required reserves, liabilities to the IMF under SBA, and other grounds) also touched their all-time end-of-month high – 19.963 bln EUR, having increased by 488.2 mln EUR from August," an NBS statement said.