Dinar gains 4.4 percent in June

The dinar's value against the euro has increased by 4.4 percent over the last month thanks to a restrictive monetary policy, says the National Bank of Serbia (NBS). According to a statement, the dinar has rallied as a result of both an increased supply of foreign currency on the market because of banks’ obligations to bring their activities into line with the measure imposed by the NBS on July 1, but also of the positive political factor in the country. Dinar gains 4.4 percent in June At the beginning of the month, one euro was worth RSD 82.47 according to the official central exchange rate, while on June 30 it was worth only RSD 78.98, which also marked the first day this year that the central rate had fallen below RSD 79. The inter-bank foreign currency market registered a high level of foreign currency circulation in June—EUR 2.6bn—the second highest monthly figure this year. Owing to stability and the liquidity of the inter-bank foreign currency market, the NBS did not sell foreign currency to banks in June, the statement adds. The NBS states that in the first half of this year, inter-bank foreign currency trading reached EUR 12.26bn.

Dinar gains 4.4 percent in June

At the beginning of the month, one euro was worth RSD 82.47 according to the official central exchange rate, while on June 30 it was worth only RSD 78.98, which also marked the first day this year that the central rate had fallen below RSD 79.

The inter-bank foreign currency market registered a high level of foreign currency circulation in June—EUR 2.6bn—the second highest monthly figure this year.

Owing to stability and the liquidity of the inter-bank foreign currency market, the NBS did not sell foreign currency to banks in June, the statement adds.

The NBS states that in the first half of this year, inter-bank foreign currency trading reached EUR 12.26bn.