Serbia vows to ‘prevent unjustified pressure’ on FX market
Central bank says it will fight for stability as crisis prompts citizens to swap dinars for euros
The National Bank of Serbia is temporarily suspending a fee charged by bureaux de change for exchanging euros.
In announcing its decision on December 16, the bank said it was “aiming to protect citizens’ interests and prevent unjustified psychological pressure on the FX market”.
The accompanying press release included an image of a bureau de change pricing €1 at 120 Serbian dinars, which the central bank described as a “psychological panic trigger”. The bank’s monetary policy framework targets 3%
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@centralbanking.com test test test
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@centralbanking.com test test test
More on Foreign Exchange
Argentina to reform exchange rate regime and buy more FX
From January, currency band will widen by an amount equivalent to monthly inflation rate
Norges Bank to pay dividends to government by selling FX
Central bank to transfer Nkr30 billion in dividends and interest payments
Iceland abruptly stops FX purchases
Short-lived programme brought in €429 million of revenue for central bank
Bank of Russia to scrap some FX transfer limits
Institution to lift restrictions four months early for citizens and foreigners from “friendly countries”
Saudi fund leaves $3bn in Pakistan’s central bank for another year
Deposit accounts for around a fifth of SBP’s dollar reserves
Argentina and the fear of floating
Economists believe the country’s authorities must fully liberalise the peso before it is too late
Market interaction key to effective FX interventions – panel
Central bankers from the Americas say data and communication help to reduce volatility
Argentina rejects rumours it will adjust exchange rate policy
Economy ministry says it will not make changes to currency band, media reports