Serbian bank’s foreign exchange reserves decline in April
BELGRADE (Serbia), May 12 (SeeNews) – Foreign exchange (FX) reserves held by the central bank of Serbia stood at 14.114 billion euros ($14.819 billion) at the end of April, down from 182.7 million euros compared to the previous month, the central bank said.
The decline in foreign exchange reserves can be attributed to the activity of the central bank in the interbank foreign exchange market, the usual activity of banks regarding the foreign exchange reserves, as well as the net repayment of loan debt by the government, the National Bank of Serbia (SNB) said in a statement. statement on Wednesday.
Trading volume on the interbank foreign exchange market amounted to 677.5 million euros in April, up 155 million euros from the previous month.
In April, the dinar strengthened against the euro by 0.1% in nominal terms, after depreciating by 0.1% in March. The SNB intervened by selling 155 million euros on the interbank market to tame the excessive daily volatility of the exchange rate. In March, it sold 1.12 billion euros to local banks. Since the beginning of the year, it has sold 2.27 billion euros.
Net foreign exchange reserves (total reserves minus banks’ foreign exchange balances in respect of reserve requirements and other obligations) amounted to €11.539 billion at the end of April, down €38.8 million from the end of March .
($ = 0.9535 euros)