Dinar hits record low value
The Serbian dinar (RSD) will on Monday slide to a new low against the euro (EUR).
Saturday, 24.01.2009.
10:44
The Serbian dinar (RSD) will on Monday slide to a new low against the euro (EUR). The official National Bank of Serbia (NBS) exchange rate will be RSD 95.46 for one euro, marking a drop of seven percent in the value of the domestic currency since the start of the year. Dinar hits record low value A low level of transactions on the inter-banking hard currency market and dwindling hard currency inflow have all contributed to this, Serbian Chamber of Commerce (PKS) Associate Goran Nikolic explains. He also adds that Serbia is no exception, since the currencies of Hungary, Romania, Poland and the Czech Republic have all lost between five and eight percent in their values. However, Nikolic does not expect the slide to continue significantly in the coming months. Otherwise, the NBS would have to renounce its declared goals: maintaining the stability of the exchange rate, and preserving the hard currency reserves. "Bearing in mind that the government and the NBS produced a memorandum saying that the inflation will be at ten percent of the consumer price, that the hard currency reserves level is relatively high, that the payment and balance income and outflow have not been reduced dramatically, we can expect that no dramatic depreciation of the dinar will occur in the coming period," Nikolic say, adding that otherwise, the implementation of the NBS' "ten percent goal" would be jeopardized.
Dinar hits record low value
A low level of transactions on the inter-banking hard currency market and dwindling hard currency inflow have all contributed to this, Serbian Chamber of Commerce (PKS) Associate Goran Nikolić explains.He also adds that Serbia is no exception, since the currencies of Hungary, Romania, Poland and the Czech Republic have all lost between five and eight percent in their values.
However, Nikolić does not expect the slide to continue significantly in the coming months. Otherwise, the NBS would have to renounce its declared goals: maintaining the stability of the exchange rate, and preserving the hard currency reserves.
"Bearing in mind that the government and the NBS produced a memorandum saying that the inflation will be at ten percent of the consumer price, that the hard currency reserves level is relatively high, that the payment and balance income and outflow have not been reduced dramatically, we can expect that no dramatic depreciation of the dinar will occur in the coming period," Nikolić say, adding that otherwise, the implementation of the NBS' "ten percent goal" would be jeopardized.
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