Governor: NBS does not have target exchange rate

National Bank of Serbia (NBS) Governor Jorgovanka Tabaković has said that the central bank does not have a target exchange rate for the dinar (RSD).

Izvor: Tanjug

Wednesday, 24.07.2013.

10:34

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BELGRADE National Bank of Serbia (NBS) Governor Jorgovanka Tabakovic has said that the central bank does not have a target exchange rate for the dinar (RSD). For this reason, she said on Tuesday in Belgrade, "one cannot talk about the Serbian currency being overvalued." Governor: NBS does not have target exchange rate Tabakovic told a news conference that the dinar rate is affected by trends in the global financial market and statements in the Serbian media, but above all the need to finance the debt and deficit by selling securities in the domestic and foreign markets. There is no need to speculate about the reasons for changes in the dinar rate when we know it is driven by investors coming to Serbia expecting to make a profit or leaving the country once they find a place for bigger and safer profits, she said. The governor stressed that as a rule, depreciation of the dinar results in higher prices, while the opposite is not true. Asked about the International Monetary Fund's (IMF) opinion that the dinar is overrated (currently at RSD 113), Tabakovic said views differ regarding the so-called real value of the dinar. Just as exporters could say they would like an exchange rate of RSD 160 for one euro, and the citizens a rate of RSD 100 so they would have an easier time making loan payments, the real value can also be commented on in the way the IMF did, she said (Tanjug) Tanjug

Governor: NBS does not have target exchange rate

Tabaković told a news conference that the dinar rate is affected by trends in the global financial market and statements in the Serbian media, but above all the need to finance the debt and deficit by selling securities in the domestic and foreign markets.

There is no need to speculate about the reasons for changes in the dinar rate when we know it is driven by investors coming to Serbia expecting to make a profit or leaving the country once they find a place for bigger and safer profits, she said.

The governor stressed that as a rule, depreciation of the dinar results in higher prices, while the opposite is not true.

Asked about the International Monetary Fund's (IMF) opinion that the dinar is overrated (currently at RSD 113), Tabaković said views differ regarding the so-called real value of the dinar.

Just as exporters could say they would like an exchange rate of RSD 160 for one euro, and the citizens a rate of RSD 100 so they would have an easier time making loan payments, the real value can also be commented on in the way the IMF did, she said

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