North Macedonia’s FX reserves up by 3.7% y/y at end-November

North Macedonia’s FX reserves up by 3.7% y/y at end-November

/ bne IntelliNews

By bne IntelliNews December 11, 2023

North Macedonia’s gross international reserves increased by an annual 3.7% to €3.963bn at the end of November, slowing from a 4.5% growth in the previous month (chart), according to preliminary central bank data.

Compared with the previous month, the FX reserves moved up by 1.1% in November, accelerating from a 0.5% m/m increase in October.

In terms of financial instruments, most of the reserves were in securities (55.8%), followed by currencies and deposits (33.8%) and monetary gold (10.4%).

The assessment of foreign exchange reserve adequacy indicators indicates that they remain within a secure range.

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