Domestic currency slides again
The Serbian dinar (RSD) has lost 0.48 percent of its value against the euro (EUR) this morning.
Monday, 13.10.2008.
12:16
The Serbian dinar (RSD) has lost 0.48 percent of its value against the euro (EUR) this morning. This is according to the official exchange rate, formed without any intervention from the National Bank of Serbia (NBS). Domestic currency slides again This Monday one euro is worth RSD 80.371, compared to Friday's exchange rate of RSD 79.985. The central bank at the end of last week decided that the situation with the currency fluctuations had stabilized, and that its intervention was unnecessary. This decision came after the NBS sold a total of EUR 80mn in the inter-banking market last week. Serbian Chamber of Commerce (PKS) Associate Goran Nikolic explains that the ongoing world financial and economic crisis will determine the fate of the dinar's value. The home currency is weakening due to decreasing levels of global liquidity,with less capital on offer for Serbian companies to seek foreign loans, causing demand for the hard currency to rise in the inter-banking market, he said. "The critical level that would jeopardize the base inflation projection would be around RSD 84 for one euro," Nikolic said. However, this expert added that it is "realistic to expect that the dinar's slide will be halted before it reaches this level".
Domestic currency slides again
This Monday one euro is worth RSD 80.371, compared to Friday's exchange rate of RSD 79.985.The central bank at the end of last week decided that the situation with the currency fluctuations had stabilized, and that its intervention was unnecessary.
This decision came after the NBS sold a total of EUR 80mn in the inter-banking market last week.
Serbian Chamber of Commerce (PKS) Associate Goran Nikolić explains that the ongoing world financial and economic crisis will determine the fate of the dinar's value.
The home currency is weakening due to decreasing levels of global liquidity,with less capital on offer for Serbian companies to seek foreign loans, causing demand for the hard currency to rise in the inter-banking market, he said.
"The critical level that would jeopardize the base inflation projection would be around RSD 84 for one euro," Nikolić said.
However, this expert added that it is "realistic to expect that the dinar's slide will be halted before it reaches this level".
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