Rise of euro reflects increased demand
The euro has climbed 1.3 dinars since the New Year, but not due to upcoming elections
Thursday, 18.01.2007.
10:39
Rise of euro reflects increased demand
Exchange-office owners said that the euro drops every year in November and December because of decreased demand, and rises in January and February due to an increase in demand.Over the last six months, the NBS purchased foreign currency in order to slow the strenghtening of the dinar. With the increased demand for euros, the NBS is now interviening in the opposite direction.
Since the New Year, the NBS has sold almost 300 million euros and thus decreased the price of the European currency, putting a stop to the fall of the dinar.
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