Dinar loses 2.47 pct against euro
After recovering during the first few days of 2008, the dinar again slid against the euro today.
Friday, 04.01.2008.
09:12
After recovering during the first few days of 2008, the dinar again slid against the euro today. The National Bank of Serbia (NBS) says that its median exchange rate Friday stood at 81.7269, 2.47 percent up on yesterday. Dinar loses 2.47 pct against euro The central bank also said that the exchange rate will continue to be formed freely in the market. The figure was at from RSD 79.24 to 79.75 Thursday, after a sudden drop of the national currency's value to RSD 82 dinars for one euro at the end of the year. In previous years, it was a rule before all major holidays that the exchange rate of the euro dropped because the market demand for the dinar increased, together with its price. An exception to this rule occurred on Dec. 28, when the euro rose to nearly RSD 82, only to return to below RSD 80 on the next day. Economists and bankers said that this was partly due to the rasing of the National Bank of Serbia (NBS) key policy rate to 10 percent, which was indirectly aimed at strengthening the dinar. Experts explained the reduction of the exchange rate by a large inflow of foreign currencies, as a result of the payment for the purchase of the RK Beograd department store chain.
Dinar loses 2.47 pct against euro
The central bank also said that the exchange rate will continue to be formed freely in the market.The figure was at from RSD 79.24 to 79.75 Thursday, after a sudden drop of the national currency's value to RSD 82 dinars for one euro at the end of the year.
In previous years, it was a rule before all major holidays that the exchange rate of the euro dropped because the market demand for the dinar increased, together with its price.
An exception to this rule occurred on Dec. 28, when the euro rose to nearly RSD 82, only to return to below RSD 80 on the next day.
Economists and bankers said that this was partly due to the rasing of the National Bank of Serbia (NBS) key policy rate to 10 percent, which was indirectly aimed at strengthening the dinar.
Experts explained the reduction of the exchange rate by a large inflow of foreign currencies, as a result of the payment for the purchase of the RK Beograd department store chain.
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