FX reserves sufficient to buy NIS

The country’s FX reserves are such that there is enough money to buy the Oil Industry of Serbia (Naftna industrija Srbije – NIS), it was said today at the National Bank of Serbia (NBS).

In response to a journalist’s question whether there is enough money to buy NIS if that turns out to be the option for solving that company’s problems, vice-governor of the NBS, Nikola Dragasevic, said that the FX reserves amounted to EUR 29.3 billion and that there was enough money for any need of the state.

Vice-governor Zeljko Jovic emphasized that the NBS could only answer that question from the aspect of the sufficiency of funds and that the entire FX reserves could not be used for the purchase of NIS or anything else.

– FX reserves are independent and only the part that is equal to the state of the country’s accounts can be used, but that is quite enough. However much NIS is evaluated, there is truly enough money for that transaction to be carried out using that part of the FX reserves, so, the state’s part, and not this independent part of the FX reserves – he said.

Narodna banka Srbije Beograd

NIS a.d. Novi Sad

National Bank of Serbia

NBS

Naftna industrija Srbije

Nikola Dragašević

FX reserves