The National Bank of Serbia published its regular household savings analysis ahead of World Savings Day, reporting record savings and higher historical returns on dinar deposits than comparable euro deposits. Dinar savings continued to grow faster than foreign currency savings in 2026, increasing the domestic currency’s share of household savings. Latest operational data put dinar savings at around RSD 250 billion at end-October, an increase of RSD 42.8 billion, or 21%, since the start of 2026. Foreign currency savings rose by EUR 1.3 billion, or 7.9%, to EUR 17.4 billion over the same period. The dinar share of total household savings reached 11% at end-September, compared with 1.9% in September 2012, when implementation of the Strategy of Dinarisation of the Serbian Financial System began. The returns analysis, covering September 2012 to September 2026, attributed dinar deposits’ advantage to higher interest rates, exemption of dinar interest income from taxation and the relatively stable exchange rate against the euro. One-year dinar deposits without rollover outperformed comparable euro deposits in 99% of the annual periods examined. Three-month dinar deposits delivered higher returns in more than 92% of quarterly periods, while two-year dinar deposits outperformed in every two-year period observed. For a RSD 100,000 one-year deposit placed in September 2025, the dinar return exceeded that of the equivalent euro deposit by almost RSD 1,800 at maturity in September 2026.

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