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Serbian c-bank's FX reserves increase in August

(Reuters )BELGRADE (Serbia), September 9 (SeeNews) - The foreign exchange (FX) reserves held by Serbia's central bank amounted to 15.876 billion euro ($16.017 billion) at the end of August, up by 852.7 million euro compared to a month earlier, the central bank said on Friday.

The increase in FX reserves is primarily the result of the central bank's activity on the domestic FX market and inflow based on the sale of national FX securities, the National Bank of Serbia (NBS) said in the statement.

The volume of trading on the interbank FX market decreased to 896.3 million euro in August, down 167.9 million euro compared to the previous month.

The value of the dinar against the euro remained unchanged in August, while the dinar nominally strengthened against the euro by 0.2% in the first eight months. NBS bought 450 million euros on the interbank foreign exchange market in August, while it sold 905 million euros net since the beginning of the year, in order to maintain the relative stability of the exchange rate of the dinar against the euro.

Net FX reserves (total reserves less banks' FX balances on account of required reserves and other requirements) amounted to 13.131 billion euro at the end of August, up by 796.7 million euro from the end of July.

($ = 0.991213 euro)

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