Foreign exchange market "relatively stable"

The situation in the foreign exchange market is relatively stable, National Bank of Serbia (NBS) Governor Dejan Šoškić said on Monday.

Izvor: Tanjug

Monday, 11.07.2011.

16:52

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The situation in the foreign exchange market is relatively stable, National Bank of Serbia (NBS) Governor Dejan Soskic said on Monday. He said the dinar weakened 5.4 percent against the euro in July, mostly under the influence of uncertainty in the region, namely the Greek crisis. Foreign exchange market "relatively stable" At a news conference held at the central bank, Soskic said another reason was a mild rise in the country's risk premium, noted in the last weeks and months, and the fact the government has given up further borrowing in treasury bills indexed in euros. According to him, the NBS purchased EUR 40mn in the second half of May and sold EUR 30 million in June. "Interventions depend not only on day to day instability in the exchange rate, but also on interbank foreign exchange market trading. We want our interventions to prevent situations where, in conditions of relatively low trading, several big transactions can significantly affect prices on the market," Soskic explained. He pointed out that looking at the foreign exchange rate over the last year, "it is hard to come to any conclusion other than that the situation is relatively stable." Dejan Soskic (Tanjug)

Foreign exchange market "relatively stable"

At a news conference held at the central bank, Šoškić said another reason was a mild rise in the country's risk premium, noted in the last weeks and months, and the fact the government has given up further borrowing in treasury bills indexed in euros.

According to him, the NBS purchased EUR 40mn in the second half of May and sold EUR 30 million in June.

"Interventions depend not only on day to day instability in the exchange rate, but also on interbank foreign exchange market trading. We want our interventions to prevent situations where, in conditions of relatively low trading, several big transactions can significantly affect prices on the market," Šoškić explained.

He pointed out that looking at the foreign exchange rate over the last year, "it is hard to come to any conclusion other than that the situation is relatively stable."

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