North Macedonia’s FX reserves soar 24.1% y/y at end-November

North Macedonia’s FX reserves soar 24.1% y/y at end-November

/ bne IntelliNews

By bne IntelliNews December 10, 2024

North Macedonia’s gross international reserves soared by an annual 24.9% to €4.920bn at the end of November (chart), slowing slightly from a 26.9% growth in the previous month, central bank data indicated.

Compared with the previous month, the FX reserves fell 1.1% in November, reversing a 12.9% increase in October.

Compared with the end of 2023, when they stood at over €4.5bn, North Macedonia's official reserves rose by 8.4%.

In terms of financial instruments, most of the reserves were in securities (68.2%), followed by currencies and deposits (20.4%) and monetary gold (11.4%).

An evaluation of foreign exchange reserve adequacy indicators shows they remain within a safe range.

#NorthMacedonia #bneChart #macro #fxreserves #GIR

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