"Currency's decline has nothing to do with elections"
BELGRADE -- Jorgovanka Tabaković has dismissed as "nonsensical" speculation that the decline of the Serbian dinar "has anything to do with the talk of early elections."
"Early parliamentary elections would have no effect on monetary policy, nor would they halt the reforms that have been launched," the National Bank of Serbia (NBS) governor and SNS party official told the Blic daily.
She added that the January decline of the dinar is a result of traditionally higher demand for foreign exchange among Serbian companies, noting that "the U.S. Federal Reserve decision to reduce quantitative easing from this month has also had an impact on the exchange rate."
"Foreign exchange markets in the region reacted similarly," added Tabaković in the explanation why the dinar dropped almost one percent against the euro in three weeks.
The official median exchange rate against the euro (EUR) on Wednesday was RSD 115.6963.
The NBS has said it sold EUR 20 million on the interbank foreign exchange market to prevent excessive daily fluctuations of the exchange rate.
The Serbian currency lost 0.7 percent of its value against the euro compared to last month, and 3.4 percent compared to the same day last year.
Business & Economy
January 22, 2014 | 16:57 | Source: Tanjug | Comments: (3) | Send comment
BELGRADE -- The bridge on the Danube between Zemun and Borča, the two sides of which were linked on Wednesday, will be completed by December 27, 2014.
January 21, 2014 | 16:23 | Source: Tanjug | Comments: (2) | Send comment
BELGRADE -- Serbia's public debt totaled EUR 20.09 billion at the end of 2013, which represents 61.2 percent of the country's GDP, the Public Debt Administration said.
January 21, 2014 | 12:25 | Source: Tanjug | Comments: (2) | Send comment
BELGRADE -- Zorana Mihajlović met on Monday with a delegation of U.S. company General Electric "concerning the realization of South Stream pipeline project through Serbia."
January 21, 2014 | 09:11 | Source: Tanjug | Comments: (1) | Send comment
BELGRADE -- The labor bill, which was to be tabled to the Serbian government for adoption after a public debate, will be "withdrawn for amendments," Tanjug has reported.
January 20, 2014 | 14:00 | Source: Tanjug | Comments: (0) | Send comment
BELGRADE -- The European Investment Bank (EIB) has approved a loan of EUR 150 million for infrastructure projects and small and medium companies in Serbia.
January 20, 2014 | 11:34 | Source: Tanjug | Comments: (3) | Send comment
UB -- The Chinese electrical power corporation Sinomach-CNEEC-CNEETC has opened its European office in Ub, a small town southwest of Belgrade.
January 20, 2014 | 10:34 | Source: Tanjug | Comments: (0) | Send comment
BELGRADE -- NBS Governor Jorgovanka Tabaković says she expects "no negative consequences for the economy from the drop in the country's credit rating."
January 20, 2014 | 10:07 | Source: Tanjug | Comments: (1) | Send comment
BELGRADE -- Head of the recently established company Eagle Hills Mohamed Alabbar has said that the initial investment in "Belgrade on Water" will be EUR 2.5-2.8 billion.
January 20, 2014 | 09:21 | Source: Tanjug | Comments: (0) | Send comment
BELGRADE -- Fitch Ratings has downgraded Serbia's long-term foreign and local currency Issuer Default Ratings to B+ with a stable outlook from BB- with a negative outlook.
January 17, 2014 | 12:39 | Source: Tanjug, RTV | Comments: (3) | Send comment
NOVI SAD -- Minister of Economy Saša Radulović say he will resign in case MPs vote against the new labour law and accompanying package of economic measures.
January 17, 2014 | 11:05 | Source: Beta | Comments: (1) | Send comment
BELGRADE -- Economy Minister Saša Radulović has said he expects the laws on receivership and privatization to be adopted by the end of January.
January 17, 2014 | 09:19 | Source: Tanjug | Comments: (0) | Send comment
BELGRADE -- The Alliance of Independent Unions of Serbia (SSSS) has sent a letter to PM Ivica Dačić demanding "urgent replacement of Economy Minister Saša Radulović."
January 16, 2014 | 14:15 | Source: Beta | Comments: (0) | Send comment
BELGRADE -- The Serbian dinar (RSD) on Thursday maintained its value against the euro (EUR) at an almost identical level as the day before.