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24. March 2003 - Monday |
Serbia's hard currency reserves register slight drop
BELGRADE - Serbia's hard currency reserves registered a slight drop to 2.15 billion dollars in February due to the purchase of crude oil, while the total value of savings in banks grew to about 900 million euros, National Bank of Serbia Governor Mladjan Dinkic said on Monday and added that hard currency reserves would grow in April because of the stand-by arrangement and succession funds.
A slight drop in the hard currency reserves was caused by the reduced value of the dollar before the Iraqi war, but in the last week, the US currency registered a 4- to 5-percent growth, Dinkic told a news conference and added that hard currency demand on the domestic market had increased not only because of the crude oil purchase, but also because of the sale of two
trenches of Telecom shares, each at the value of 30 million dollars.
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