The National Bank of Serbia published April reserve and foreign exchange market data showing gross foreign exchange reserves of EUR 28,156.3 million at end-April, down EUR 329.5 million from end-March, while net foreign exchange reserves fell by EUR 315.0 million to EUR 23,625.5 million. The reserve stock covered 159.7% of M1 and 6.5 months of imports of goods and services, which was more than double the standard used to define adequate import coverage. Gold reserves, which form part of foreign exchange reserves, reached a record 53,963.0 kilograms, valued at EUR 6,857.9 million or 24.4% of gross reserves. April reserve outflows reflected net government repayments on foreign currency loans and other foreign currency obligations of EUR 226.3 million and National Bank of Serbia interventions on the domestic foreign exchange market of EUR 30.0 million, while a EUR 45.0 million purchase agreed at end-April was settled in May. Inflows came from reserve management of EUR 52.0 million and from donations, banks’ foreign currency required reserves and other items with a net effect of EUR 48.4 million, while net market effects were negative EUR 173.6 million, mainly because the USD weakened by about 1.7% against the EUR. Gold holdings increased by 225.8 kilograms in April through the purchase of 18 gold bars on the domestic market from Serbia Zijin Copper. Interbank foreign exchange trading volume totaled EUR 773.1 million in April, the dinar was almost unchanged against the euro during the month, and the central bank was a net buyer of EUR 15.0 million in April but a net seller of EUR 1,205.0 million since the start of 2026 to maintain relative stability of the dinar against the euro.
National Bank of Serbia 2026-05-11
National Bank of Serbia reports April foreign exchange reserves at EUR 28.16 billion and gold reserves at a record 53,963 kg
The National Bank of Serbia reported that gross foreign exchange reserves stood at EUR 28,156.3 million at end-April, down EUR 329.5 million from end-March, while net reserves declined to EUR 23,625.5 million, covering 159.7% of M1 and 6.5 months of imports. Gold reserves reached a record 53,963.0 kilograms, valued at EUR 6,857.9 million or 24.4% of gross reserves, following additional domestic purchases, while the dinar remained broadly stable against the euro as the central bank was a net buyer of EUR 15.0 million in April but a net seller of EUR 1,205.0 million year-to-date.