The NBS Head Office Building was built from 1888 – 1890, on the basis of blueprints designed by Konstantin Jovanovic (Vienna 1849 – Zurich 1923), son to distinguished artist Anastas Jovanovic...
11/12/2024
Climbing by EUR 416.6 mn from a month earlier, gross NBS FX reserves reached EUR 28,704.6 mn at end-November, their highest end-of-month level so far. They covered 179.7% of money supply M1 and 7.3 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 liabilities on other grounds) came at EUR 24,456.9 mn – the highest end-of-month level, up by EUR 423.4 mn from the month before.
The greatest inflows to FX reserves in November, worth EUR 265.0 mn net, originated from NBS interventions, i.e. purchases in the domestic FX market. Net inflows also came from FX reserves management, banks’ allocation of FX required reserves, grants and other sources, in the amount of EUR 102.7 mn.
The inflows were more sufficient to compensate for the outflows recorded on account of the government’s debt repayment in respect of FX loans and other FX liabilities (EUR 219.2 mn).
FX reserves were also propped up by a significant positive net effect of market factors worth EUR 268.1 mn, mainly reflecting the dollar’s appreciation against the euro by around 2.7% in the international market.
Trading volumes in the IFEM came at EUR 756.3 mn in November, down by EUR 75.3 mn from October. In the first eleven months of the year, trading volumes in the IFEM totalled EUR 7,796.6 mn.
The dinar gained 0.1% against the euro nominally in November, and 0.2% since the start of the year.
The NBS bought EUR 325.0 mn in the IFEM in November. Since the beginning of the year, the NBS bought EUR 2,315.0 mn net, in order to maintain the relative stability of the dinar against the euro.
Governor’s Office
