Central bank "has enough reserves to defend currency"
BELGRADE -- Governor of the National Bank of Serbia (NBS) Jorgovanka Tabaković says the NBS "has enough FX reserves to defend the national currency."
She revealed that the bank bought EUR 20 million just before the weekend for the first time this year, after only selling foreign currency for the last three months.
"In this way, over a total of 86 days in 2014, EUR 820 million has been sold on the foreign exchange market,” Tabaković said for Sunday’s issue of Belgrade-based daily Blic.
She added that the NBS intervened on the market to ease the excessive daily volatility of the local currency and facilitate trade on the FX market.
She said that the Serbian dinar has been weakening since the beginning of the year due to a seasonal increase in FX demand by energy importers and also trends in the global financial market.
Tabaković pointed out that the NBS foreign exchange reserves are currently at a very high level – EUR 10.6 billion - which is way more than set in all, even the strictest, criteria for the optimum size of foreign exchange reserves.
Business & Economy
March 28, 2014 | 10:08 | Source: Tanjug | Comments: (8) | Send comment
VIENNA -- Serbian President Tomislav Nikolić talked in Vienna on Thursday afternoon with representatives of major Austrian companies that are present in Serbia.
March 27, 2014 | 12:13 | Source: Beta | Comments: (0) | Send comment
BELGRADE -- PKS President Željko Sertić says Serbia has opted for the path to the European Union, but will continue economic cooperation with other countries.
March 26, 2014 | 15:04 | Source: Tanjug | Comments: (9) | Send comment
BELGRADE -- Serbia's new government will have "a historic opportunity to reform the public sector, most notably public enterprises," says economist Mihajlo Rabrenović.
March 25, 2014 | 14:53 | Source: Tanjug | Comments: (2) | Send comment
BELGRADE -- Ivica Dačić said on Tuesday the successful realization of a Russian loan for railway modernization was "an indicator of brotherly and friendly relations."
March 25, 2014 | 13:51 | Source: Tanjug | Comments: (0) | Send comment
BELGRADE -- Serbian President Tomislav Nikolić and Prime Minister Ivica Dačić had separate meetings in Belgrade on Tuesday with a delegation of the Russian Federation.