NBS Governor Jorgovanka Tabakovic said that 86% of the gold is being safely stored at the central bank's vaults in Belgrade, while the remaining 5 tonnes are being kept in Switzerland.
According to the NBS, the repatriation of gold helps the central bank increase the availability and safety of gold reserves during times of crisis and uncertainty. The repatriation process was initiated in 2021 amid rising global geopolitical and economic tensions.
The transfer will make Serbia the only country in Eastern Europe that does not store its gold in traditional financial centers such as Switzerland, the UK or the US.
Serbia's total gold reserves currently stand at 50.5 tonnes, worth around $6 billion at current market prices.
Serbia has significantly increased its gold holdings in recent years. From 2019 to 2024, the country purchased 17 tonnes of gold on the international market and at least 19 tonnes from Serbia's Zijin Mining, a subsidiary of China's Zijin Mining Group.
According to Governor Tabakovic, in times of uncertainty, gold supports financial stability. That is why they are proactive in buying gold. Paying for domestic gold purchases in dinars is also seen as a strategic advantage.
"We paid 993 million euros for 17 tons of gold purchased abroad. That gold is now worth 1.8 billion euros. It was a wise and timely decision. We did not wait for a crisis to react. We bought gold when we could, not when we were forced to," she said.
Serbia was among the world's top gold buyers in the first five months of 2025, with 1.7 tonnes of gold in its reserves, according to data from the World Gold Council. Last year, the NBS added 3.2 tonnes of gold and has bought more than 2.3 tonnes since the beginning of this year.
The NBS sold 1.35 billion euros from its foreign exchange reserves earlier this year to stabilize the dinar, but has since recovered the money. Serbia is once again a net buyer of foreign exchange, with a surplus of 55 million euros so far this year.
Total foreign exchange reserves now stand at €28 billion, with net reserves of €23.7 billion. Ms Tabakovic stressed that the reserves are not only diversified across currencies but also in line with Serbia's foreign obligations.
Source: https://vietnamnet.vn/gia-vang-bien-dong-quoc-gia-dong-au-ra-quyet-dinh-lich-su-2426829.html
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