Depending on the direction and intensity of pressures, we intervened in the FX market on both sides – as both the buyer and the seller of foreign currency. Having bought EUR 970 mln and sold EUR 450 mln in 2015, we ended the year with FX reserves of the NBS and of the Republic of Serbia bolstered by more than half a billion euros.
The stability of the national currency is also conducive to a higher degree of dinarisation of the financial system, which is a common objective of us all. Economic policy makers have long been advocating a greater use of the dinar, but the growth in dinar deposits and dinar lending to households has been particularly noticeable only lately.