National Bank of Serbia announced that the gross foreign exchange reserves at the end of March were 24,9 billion euros, which is a decrease of 89,3 million euros compared to the end of February.
That amount of foreign exchange reserves ensures coverage of the money supply M1 of 171,1 percent and 6,7 months of imports of goods and services, which is more than twice above the standard that determines the adequate level of coverage of imports of goods and services with foreign exchange reserves.
Net foreign exchange reserves were 20,6 billion euros and compared to the end of February, they decreased by 127,2 million euros.
After a long time, the reduction of foreign exchange reserves was also influenced by the sale of foreign currency by the National Bank on the foreign exchange market, for 175 million euros.
