Exchange rate reaches RSD 106
The value of the Serbia dinar (RSD) has continued to fall despite interventions by the National Bank of Serbia (NBS).
Wednesday, 28.07.2010.
13:54
The value of the Serbia dinar (RSD) has continued to fall despite interventions by the National Bank of Serbia (NBS). One euro is this Wednesday worth RSD 106.14. Exchange rate reaches RSD 106 According to the NBS, the dinar’s value decreased by 0.56 percent and is at its lowest value against the euro since the introduction of the EU currency in 2002. The NBS sold EUR 90mn on Tuesday on the interbank foreign currency market in order to stop the daily oscillations of the rate and has sold EUR 1.616bn since the beginning of the year. In the last three days, the dinar has decreased RSD 1.04 in value against the euro. One euro was worth RSD 105.1019 on Friday. Analysts of the French bank BNP estimated that the exchange rate would reach RSD 105 by March, but that the Serbian currency would strengthen by the end of the year, with the euro expected to be worth RSD 90 in early 2011. They also advised investors to buy dinars while weak. Outgoing NBS Governor Radovan Jelasic said at the end of 2009 that the “estimates of the financial sector are that the euro would be worth 100.4 by the end of 2010.” The dinar was at its strongest this year on January 4, when one euro was worth RSD 95.9679.
Exchange rate reaches RSD 106
According to the NBS, the dinar’s value decreased by 0.56 percent and is at its lowest value against the euro since the introduction of the EU currency in 2002.The NBS sold EUR 90mn on Tuesday on the interbank foreign currency market in order to stop the daily oscillations of the rate and has sold EUR 1.616bn since the beginning of the year.
In the last three days, the dinar has decreased RSD 1.04 in value against the euro. One euro was worth RSD 105.1019 on Friday.
Analysts of the French bank BNP estimated that the exchange rate would reach RSD 105 by March, but that the Serbian currency would strengthen by the end of the year, with the euro expected to be worth RSD 90 in early 2011. They also advised investors to buy dinars while weak.
Outgoing NBS Governor Radovan Jelašić said at the end of 2009 that the “estimates of the financial sector are that the euro would be worth 100.4 by the end of 2010.”
The dinar was at its strongest this year on January 4, when one euro was worth RSD 95.9679.
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