The National Bank of Serbia reported that gross foreign exchange reserves rose by EUR 303.5 million in August to a record end-of-month level of EUR 30.81 billion. Net reserves increased by EUR 341.4 million to a record EUR 26.33 billion. Gross reserves covered 163.9% of money supply M1 and seven months of imports of goods and services, more than twice the relevant adequacy standard. Positive market effects added EUR 761.3 million, largely reflecting a 13.3% increase in the U.S. dollar price of gold, while foreign exchange purchases, reserve management and grants also supported reserves. These inflows outweighed EUR 710.4 million in government foreign currency liability payments. Gold holdings reached a record 54,991.8 kilograms, valued at EUR 6.96 billion and representing 22.6% of gross reserves. The dinar was almost unchanged against the euro in August and had depreciated by 0.1% over the first eight months of 2026.
2026-09-11National Bank of Serbia
National Bank of Serbia reports record gross foreign exchange reserves of EUR 30.81 billion at end-August
The National Bank of Serbia reported record end-August gross foreign exchange reserves of EUR 30.81 billion and net reserves of EUR 26.33 billion. Positive market effects, mainly from higher gold prices, supported the increase, while reserve coverage remained more than twice the relevant adequacy standard.