PM blames NBS over exchange rate
Prime Minister Mirko Cvetković said that the National Bank of Serbia (NBS) should take responsibility for the decrease in the value of the domestic currency.
Wednesday, 13.01.2010.
17:28
Prime Minister Mirko Cvetkovic said that the National Bank of Serbia (NBS) should take responsibility for the decrease in the value of the domestic currency. Cvetkovic said in Belgrade on Wednesday that the state, with its budget policies and measures over the last several months, had not caused the dinar (RSD) to decrease in value in any way. PM blames NBS over exchange rate He added that the NBS should have foreseen that the demand for buying foreign currency was going to increase at the end of the year, and that stronger and timely interventions would be needed to stabilize the exchange rate of the domestic currency. “I expect that the NBS, as an independent institution, but at the same time a partner of the government in creating economic policies, will implement goals according to monetary policies, and not allow its officials to make statements that transfer responsibility for their mistakes to the government,” Cvetkovic said. The dinar today reached yet another all-time low against the euro, with the official exchange rate at RSD 97.3443. The central bank reacted by selling EUR 23mn at an auction spot sale of foreign exchange in order to prevent fluctuations in the exchange rate, a statement carried by Tanjug news agency said. Mirko Cvetkovic (FoNet, file)
PM blames NBS over exchange rate
He added that the NBS should have foreseen that the demand for buying foreign currency was going to increase at the end of the year, and that stronger and timely interventions would be needed to stabilize the exchange rate of the domestic currency.“I expect that the NBS, as an independent institution, but at the same time a partner of the government in creating economic policies, will implement goals according to monetary policies, and not allow its officials to make statements that transfer responsibility for their mistakes to the government,” Cvetković said.
The dinar today reached yet another all-time low against the euro, with the official exchange rate at RSD 97.3443.
The central bank reacted by selling EUR 23mn at an auction spot sale of foreign exchange in order to prevent fluctuations in the exchange rate, a statement carried by Tanjug news agency said.
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