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...
11/07/2025
Gross NBS FX reserves amounted to EUR 27,403.6 mn at end-June 2025, having increased by EUR 4.7 mn from a month ago.
They covered 161.8% of money supply M1 and 6.5 months’ worth of the country’s imports of goods and services, which is more than twice the level prescribed by the relevant 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 other grounds) came at EUR 23,076.4 mn, up by EUR 12.7 mn from end-May.
Inflows to FX reserves in June came from NBS interventions in the local FX market in the amount of EUR 465.0 mn (EUR 75.0 mn bought on the last two business days of May, settled and effectuated from the aspect of inflows to FX reserves in June, and EUR 390.0 mn bought in June, while EUR 210 mn bought on the last two days of June will be settled and effectuated on FX reserves in July), as well as from FX required reserve allocations by banks (EUR 34.4 mn, net), and FX reserves management, grants and other sources (EUR 69.6 mn, net).
A total of EUR 263.7 mn flowed out of FX reserves in June on account of government net debt repayment under FX loans and payment of other FX liabilities.
Market factors provided a negative net effect in the amount of EUR 300.6 mn as a consequence of trends in international markets – chiefly, the weakening of the dollar against the euro by around 3.3%, while a rise in gold prices in USD by around 0.3% worked in the opposite direction.
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Trading volumes in the IFEM amounted to EUR 765.1 mn in June, up by EUR 227.5 mn from the month before. Trading volumes in the first six months of the year totalled EUR 4,190.0 mn.
The dinar stayed broadly unchanged against the euro in June, while since the beginning of the year it weakened nominally by 0.1%. The NBS bought EUR 600.0 mn in the IFEM during the month. Since the beginning of the year, it sold EUR 400.0 mn net to maintain the relative stability of the dinar exchange rate against the euro.
Governor’s Office
