"Nikolić victory would weaken dinar"

Bloomberg writes that an election victory of Tomislav Nikolić would hurt the stability of the Serbian dinar.

Izvor: Tanjug

Tuesday, 22.01.2008.

11:07

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Bloomberg writes that an election victory of Tomislav Nikolic would hurt the stability of the Serbian dinar. Bloomberg, the largest international company for financial news, stated that investors are worried that president Boris Tadic could lose in the second round of elections on February 3, to Serb Radical Party candidate Tomislav Nikolic. "Nikolic victory would weaken dinar" Bloomberg stated that the dinar increased value after the first round of elections and is 1.6 percent stronger now than on January 18. “There will be uncertainty in the market” until there is the runoff, said Martin Stelzeneder, an analyst at Raiffeisen Zentralbank Oesterreich in Vienna. “If Mr. Nikolic wins, there will be concerns about investments” in Serbia and “downward pressure on the dinar,” he said. Bloomberg stated that Tadic wants Serbia to become a European Union member country, while Nikolic gives the advantage to strong ties with Russia and the sale of state property. The National Bank of Serbia used some of its USD 16bn of foreign currency reserves to support the dinar in May after Nikolic's election as parliamentary speaker caused the Serbian currency to slide as much as 3.5 percent and the stock market to lose about 25 percent of its value, NBS governor Radovan Jelasic told Bloomberg.

"Nikolić victory would weaken dinar"

Bloomberg stated that the dinar increased value after the first round of elections and is 1.6 percent stronger now than on January 18.

“There will be uncertainty in the market” until there is the runoff, said Martin Stelzeneder, an analyst at Raiffeisen Zentralbank Oesterreich in Vienna.

“If Mr. Nikolić wins, there will be concerns about investments” in Serbia and “downward pressure on the dinar,” he said.

Bloomberg stated that Tadić wants Serbia to become a European Union member country, while Nikolić gives the advantage to strong ties with Russia and the sale of state property.

The National Bank of Serbia used some of its USD 16bn of foreign currency reserves to support the dinar in May after Nikolić's election as parliamentary speaker caused the Serbian currency to slide as much as 3.5 percent and the stock market to lose about 25 percent of its value, NBS governor Radovan Jelašić told Bloomberg.

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