NBS to control currency fluctuation
The NBS has bought EUR 3mn on the inter-bank currency market to prevent the dinar strengthening any further.
Tuesday, 05.08.2008.
15:16
The NBS has bought EUR 3mn on the inter-bank currency market to prevent the dinar strengthening any further. The National Bank of Serbia (NBS) will continue to carefully monitor developments on the foreign currency markets, and will be ready to react in the event of excessive daily currency fluctuations, a statement reads. NBS to control currency fluctuation Today, the dinar’s value continued to rise, with the central exchange rate reaching a new record value of RSD 76.49 to the euro. The domestic currency has strengthened a further RSD 0.21 since yesterday, thus reaching its highest value since November 2, 2004, when the euro was worth RSD 76.36. Economists believe that this trend is a consequence of an increased influx of foreign currency has been brought about by, among other things, Serbian companies’ loans abroad, direct foreign investment, money transfers, and the lack of dinars on the market due to the NBS’s restrictive monetary policy. The euro reached its highest value this year a day after the general elections on May 12, when it was RSD 83.8674 worth.
NBS to control currency fluctuation
Today, the dinar’s value continued to rise, with the central exchange rate reaching a new record value of RSD 76.49 to the euro.The domestic currency has strengthened a further RSD 0.21 since yesterday, thus reaching its highest value since November 2, 2004, when the euro was worth RSD 76.36.
Economists believe that this trend is a consequence of an increased influx of foreign currency has been brought about by, among other things, Serbian companies’ loans abroad, direct foreign investment, money transfers, and the lack of dinars on the market due to the NBS’s restrictive monetary policy.
The euro reached its highest value this year a day after the general elections on May 12, when it was RSD 83.8674 worth.
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