NBS FX reserves hit record-high 25.157 bln euros at end-May

BELGRADE - National Bank of Serbia (NBS) gross FX reserves reached 25,157.1 mln euros at end-May, their highest end-of-month level since monitoring began in 2000.

The reserves were up by 27.9 mln euros from the previous month, the NBS said in a statement.

"They covered 172.1 pct of money supply M1 and 6.7 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 the arrangement, and other grounds) also came at a record high - 20,972.1 mln euros, up by 50.5 mln euros from end-April," the central bank said.

"The greatest inflows to FX reserves in May came from NBS interventions in the IFEM (130.0 mln euros). This amount reflects an inflow worth 100 mln euros...

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