Today afternoon: 78.15 buying rate
angelina markovic wrote: > > http://www.b92.net/eng/news/economy-article.php?yyyy=2007&mm=07&dd=02&nav_category=95&nav_id=42167 > > Euro falls to RSD 78.4 > 2 July 2007 | 11:28 | Source: Beta > *BELGRADE -- The value of the euro has fallen to its mid-December 2004 rate. > > * The buying rate today is RSD 78.4, the same it was in December of last > year and 2004, which was also the so-called “black rate” of October 2000. > > The euro reached its peak in May 2006, when the exchange rate was at RSD > 88 for one euro. > > Economist Milan Kovačević said that the decrease in value in relation to > the Serbian dinar is the result of measures implemented by the National > Bank of Serbia (NBS) to protect the economy from an “inflatory budget” > for this year. > > The weakening of the euro is also attributed to smaller foreign currency > reserves in the NBS in the first quarter, compared to last year. > > Kovačević believes that the forced increase of the dinar's worth by the > NBS aims to decrease inflation. > > He said that the central bank does not have many mechanisms to defend > the value of the dinar because the foreign currency reserves are already > too high, as are the interest rates. > > Kovačević said that a better measure for the NBS would be to decrease > the referential interest rates, which would decrease all other interest > rates on the banking market. > > He concluded that the situation with the foreign currency market is not > beneficial for exporters or those selling products on the Serbian > market, because the current conditions of the dinar's value are still > uncompetitive in the long-term, and therefore economic growth may be > made more difficult. > > > > =============== > Group Moderator: [Е-ПОШТА > ЗАШТИЋЕНА] > page at http://magazine.sorabia.net > for more informations about current situation in Serbia > http://www.sorabia.net > Slusajte GLAS SORABIJE nas talk internet-radio (Serbian Only) > http://radio.sorabia.net > > Yahoo! Groups Links > > > > >
