Skopje, 22 July 2025 (MIA) - Foreign exchange (FX) reserves are in safe hands. They currently amount to EUR 4.6-4.7 billion, a comfortable position for country, covering about four-and-a-half-months-worth of exports, higher than the recommended global standard of three-and-a-half-months, said National Bank Governor Trajko Slaveski on Tuesday.

"The FX reserves are in safe hands. There is a dedicated National Bank team that monitors the FX reserves and market trends on a daily basis. A portion of the reserves are in gold that is kept in the Bank of England. The rest is in securities, deposited in the safest banks across the world," said Governor Slaveski.

He added that the amount of the FX reserves is a key factor for maintenance of the fixed foreign exchange rate in time of uncertainy on the global markets.

He does not know the reason why the monetary gold amount has not increased over time.

"The National Bank used to buy the gold from the country's mines and put it in the reserves, but they are currently not at a satisfactory level. Gold prices have doubled over the past year. In a time of global uncertainty, investors turn to safe assets, gold being one," noted Slaveski.

Photo: MIA