[REVISION HISTORY]

Serbia foreign exchange market and gold reserve developments

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What changed

2026-10-28 10:51 UTC → 2026-10-29 10:11 UTC · added ~~removed~~

In early October 2026, Raiffeisen Bank was recognized by Euromoney as the best bank for foreign exchange trading in Serbia, highlighting the implementation of digital solutions for FX transactions and international payments. By late October, the National Bank of Serbia (NBS) addressed reports concerning a potential euro shortage. The NBS confirmed that the market was functioning normally, noting that authorized exchange offices met increased demand with a net sale of 56.3 million euros during the month. To ensure stability and continuous supply, the NBS Executive Board extended the deadline for exchange offices and postal operators to return foreign currency purchased from banks from 15 to 30 days, effective until December 10, 2026. The central bank stated it would continue monitoring market movements to prevent “non-market or artificial disturbances” and preserve trust in the domestic currency. In addition to managing liquidity, NBS Governor Jorgovanka Tabaković reported that Serbia’s gold reserves have reached a record 55.3 tons, with a market value exceeding 6.4 billion euros. This amount represents approximately 21.6 percent of the country’s total gross foreign exchange reserves. Tabaković described the accumulation of gold as a long-term strategy to ensure economic sovereignty and stability during global financial uncertainty. The bank has also prioritized domestic procurement, acquiring 2.6 tons of gold from local production between early 2026 and September.

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