Dinar hits new 2016 low

SOURCETanjug

BELGRADE – The dinar dropped by 0.1 percent against the euro Wednesday, making the official medium exchange rate RSD 123.3738 – a new 2016 low for the Serbian national currency.

RSD-Dinar-Money

The National Bank of Serbia (NBS) sold EUR 20 million on the interbank foreign exchange market for the second consecutive day on Tuesday to curb excessive daily fluctuations of the exchange rate.

Since the beginning of the year, the dinar has dropped by 1.4 percent against the euro, the NBS said in a statement.

The national currency dropped by 0.5 percent against the eurozone currency compared to a month ago and by 2.6 percent compared to a year ago.

The dinar-to-dollar indicative exchange rate dropped by 0.4 percent to RSD 112.1070. The dinar rose by 1.1 percent against the US currency compared to a month ago, dropping by 5.3 percent compared to a year ago.

Citizens have no reason for concern about the exchange rate of the dinar, Serbia’s Central Bank Governor Jorgovanka Tabakovic has said, adding that it will stable as long as she is in office.

“In the last three years, the dinar dropped on average 1 percent annually. From 2010 to 2015, the dinar weakened 21 percent, but until August 2012 when I took office, the dinar fell 18.9 percent,” Tabakovic said.

“The rate will be stable as long as I am governor and as long as we have foreign exchange reserves as we do, and last year we secured over 0.5 billion in reserves. No need for concern,” Tabakovic was adamant.

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