The gross foreign exchange reserves of the National Bank of Serbia (NBS) amounted to EUR 28.79 billion at the end of February, marking a decrease of EUR 225.3 million compared to the end of January, the NBS announced yesterday.Net foreign exchange reserves, which represent gross reserves minus foreign exchange assets of banks based on mandatory reserves, obligations to the International Monetary Fund (IMF) under arrangements, and other liabilities, stood at EUR 24.3 billion at the end of February, down EUR 274.1 million from the previous month. The NBS spent EUR 325 million on interventions in the domestic foreign exchange market and allocated EUR 145.7 million for the repayment of due loan installments and other foreign currency obligations of the state. Inflows into foreign exchange reserves in February came from the allocation of mandatory foreign currency reserves by banks, amounting to a net total of EUR 69.2 million, as well as from foreign exchange reserve management, donations, and other sources, which contributed an additional EUR 54.2 million in net terms. The NBS highlighted that a significant positive net effect of market factors, amounting to EUR 122 million, was driven by developments in international markets, including a 0.8 percent increase in the price of gold in US dollars and the rising value of foreign securities in the NBS portfolio. In February, the total volume of foreign exchange trading on the interbank foreign exchange market reached EUR 819.1 million, increasing by EUR 159.9 million compared to the previous month. In the year’s first two months, total interbank trading amounted to EUR 1.4 billion.
