Dinar on the rise without NBS help

NBS claims not to have influenced yesterday’s exchange rate of 78.80 RSD per Euro.

Izvor: B92

Wednesday, 24.01.2007.

16:13

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Dinar on the rise without NBS help

The Central Bank intervened in November and December 2006 to buy 412.9 million euros and prevent an excessive rise of the dinar against the Euro, whilst selling 412,9 million euros this year to stabilize the dinar and stop its further decline.

“The trends of demand and supply of foreign currency in the past few days have dictated the exchange rate, which has been formed by harmonizing supply and demand for foreign currency in banking transactions, without any involvement of the NBS, which proved that the Serbian Central Bank runs an appropriate and well-timed monetary policy ”, NBS highlights in its statement.

The statement also says that on January 18, 19, and 22 the exchange rate stood at 80.275, 80.150 and 79.150 RSD per Euro, meaning that the national currency has resumed an upward trend since demand for dinars has dropped.

NBS confirmed plans to intervene only when it is necessary to prevent excessive daily fluctuations in the exchange rates.

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