Serbia reaches record gold and foreign exchange reserves

Serbia has reached record levels in its foreign exchange and gold reserves. As of late August 2026, the National Bank of Serbia reported gross foreign exchange reserves of 30.805 billion euros. Gold reserves reached a record 54,991.8 kilograms, valued at approximately 6.959 billion euros, accounting for 22.6 percent of the total gross reserves.

President Aleksandar Vučić noted that gold reserves have grown significantly from 14.8 tons in 2012 to the current levels, with the value increasing tenfold. This accumulation was achieved through international purchases, domestic production, and the repatriation of gold previously held abroad. Currently, 49.8 tons are held in the vaults of the National Bank of Serbia, while 5 tons are held in Bern.

In terms of monetary policy, the Executive Board of the National Bank of Serbia decided to maintain the reference interest rate at 5.75 percent. Additionally, the Serbian Parliament was dissolved on September 9, 2026, with extraordinary parliamentary elections scheduled for October 25, 2026.