Credit rating of the Republic of Serbia
S&P Global Ratings BBB-/ stable outlook
Fitch Ratings BB+/ positive outlook
Moody's Investors Service Ba2/ stable outlook
Daily currency exchange rates
EUR/RSD 117.3433
USD/RSD 101.6575
Eurobond Closing Prices - 13/08/2026
EB 2027 / 3.125% EUR €99.815 / 3.353%
EB 2028 / 1.000% EUR €94.249 / 3.903%
EB 2028 / 6.250% USD $101.986 / 5.060%
EB 2029 / 1.500% EUR €93.304 / 4.026%
EB 2030 / 2.125% USD $87.570 / 5.410%
EB 2031 / 4.250% EUR €99.304 / 4.412%
EB 2032 / 4.750% EUR €100.336 / 4.682%
EB 2033 / 1.650% EUR €83.554 / 4.618%
EB 2033 / 6.500% USD $104.476 / 5.723%
EB 2034 / 6.000% USD $101.005 / 5.836%
EB 2036 / 2.050% EUR €78.047 / 4.850%
EB 2036 / 5.500% USD $96.628 / 5.961%
EB 2038 / 4.875% EUR €98.471 / 5.048%
The preliminary debt stock of the Republic of Serbia
The preliminary debt stock of the Republic of Serbia as of August 14, 2026 amounted to RSD 4,914,735,138,600
News

The Republic of Serbia sold 5-year RSD Government bond issue in the amount of RSD 35B at primary auction

28-07-2025
At the primary auction of 5-year RSD Government bonds of the Republic of Serbia, issued on July 28th, 2025 auction volume amounted to RSD 35,000,000,000 with a coupon rate of 4.500% (annual coupon).

Total volume of submitted bids amounted RSD 65,308,820,000. Government bonds in the amount of 3,500,000 units were realized, having the total nominal value of RSD 35,000,000,000.

Government bonds were sold at YTM of 4.490%, respectively by price RSD 10,004.39 and maturity date is on July 30th, 2030. The annually coupon is 4.500% and the payment date is every July 30th until the maturity date.

The Republic of Serbia sold 12-year euro-denominated Government bond issue in the amount of EUR 250 million at primary auction

25-07-2025
At the primary auction of 12-year EUR Government bonds of the Republic of Serbia, issued on July 25th, 2025 auction volume amounted to EUR 250,000,000 with a coupon rate of 5.000% (annual coupon).

Total volume of submitted bids amounted EUR 385,858,000. Government bonds in the amount of 250,000 units were realized, having the total nominal value of EUR 250,000,000.

Government bonds were sold at YTM of 4.990% and maturity date is on July 29th, 2037. The annually coupon is 5.000% and the payment date is every July 29th until the maturity date.

Announcement - Auction Calendar for Government Securities of the Republic of Serbia in Q3 and Q4 2025

25-06-2025

Auction schedule for RSD denominated securities for Q3 and Q4, 2025:


28/07/2025 - 5Y Govt. bonds, 4.500% p.a. coupon (annual payment), maturity July 30th 2030,
                      offered for sale RSD 35,000,000,000

16/09/2025 - 10.5Y Govt. bonds, 5.250% p.a. coupon (semi-annual payment), maturity July 27th
                      2035, reopening from January 23rd 2025, offered for sale RSD 10,000,000,000

25/11/2025 - 10.5Y Govt. bonds, 5.250% p.a. coupon (semi-annual payment), maturity July 27th
                      2035, reopening from January 23rd 2025, offered for sale RSD 10,000,000,000


Auction schedule for EUR denominated securities for Q3 and Q4, 2025:

25/07/2025 - 12Y Govt. bonds, 5.000% p.a. coupon (annual payment), maturity July 29th 2037,
                      offered for sale EUR 150,000,000

17/12/2025 - 12Y Govt. bonds, 5.000% p.a. coupon (annual payment), maturity July 29th 2037,
                      reopening from July 25th 2025, offered for sale EUR 100,000,000

Credit rating of the Republic of Serbia
S&P Global Ratings BBB-/ stable outlook
Fitch Ratings BB+/ positive outlook
Moody's Investors Service Ba2/ stable outlook
Daily currency exchange rates
EUR/RSD 117.3433
USD/RSD 101.6575
Eurobond Closing Prices - 13/08/2026
EB 2027 / 3.125% EUR €99.815 / 3.353%
EB 2028 / 1.000% EUR €94.249 / 3.903%
EB 2028 / 6.250% USD $101.986 / 5.060%
EB 2029 / 1.500% EUR €93.304 / 4.026%
EB 2030 / 2.125% USD $87.570 / 5.410%
EB 2031 / 4.250% EUR €99.304 / 4.412%
EB 2032 / 4.750% EUR €100.336 / 4.682%
EB 2033 / 1.650% EUR €83.554 / 4.618%
EB 2033 / 6.500% USD $104.476 / 5.723%
EB 2034 / 6.000% USD $101.005 / 5.836%
EB 2036 / 2.050% EUR €78.047 / 4.850%
EB 2036 / 5.500% USD $96.628 / 5.961%
EB 2038 / 4.875% EUR €98.471 / 5.048%
The preliminary debt stock of the Republic of Serbia
The preliminary debt stock of the Republic of Serbia as of August 14, 2026 amounted to RSD 4,914,735,138,600
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Pon Uto Sre Čet Pet Sub Ned
Ministry of finance of the Republic of Serbia - Public Debt Administration
Address: Balkanska 53, Belgrade, Serbia
Tel : + 381 11 7652 742 ; Fax: +381 11 2629 055
uprava@javnidug.gov.rs
Ministry of finance of the Republic of Serbia - Public Debt Administration
Address: Balkanska 53, Belgrade, Serbia
Tel : + 381 11 7652 742 ; Fax: +381 11 2629 055
uprava@javnidug.gov.rs