NBS: FX reserves hit all-time high at end-September

BELGRADE - National Bank of Serbia (NBS) gross FX reserves stood at 28,279.7 mln euros at end-September - their highest end-of-month level since monitoring began in 2000 - and were up by 54.7 mln euros relative to the month before.

The reserves covered 183.0 pct 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, the NBS said in a statement.

"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) also came at a record high of 24,038.1 mln euros, having increased by 53.8 mln euros from the month before.

A total of 183.1 mln euros flowed into FX reserves in September, most of which originated from banks' allocation of FX reserves, FX...