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Elections in Serbia will not affect the monetary policy

Elections in Serbia will not affect the monetary policy

Review Hari Stefanatos

According to the Vice President of the Serbian Progressive Party (SNS) and Governor of the National Bank of Serbia, Jorgovanka Tabaković, the speculation that the decline of the Serbian dinar "has something to do with the talk of early elections" is "nonsensical".

"Early parliamentary elections would have no effect on monetary policy, nor would they halt the reforms that have been launched", Tabaković stated on the Blic daily to add that the reasons behind the January decline of the serbian dinar was the increase in the demand for foreign exchange among serbian companies for this period, while "the U.S. Federal Reserve decision to reduce quantitative easing from this month has also had an impact on the exchange rate."

To add to that Tabaković said "foreign exchange markets in the region reacted similarly".

The NBS announced that it has sold €20 million on the interbank foreign exchange market in order to prevent daily fluctuations of the exchange rate, resulting in an official median exchange rate of RSD 115.6963 against the euro (EUR), with the Serbian currency losing 0.7% of its value against the euro compared to last month, and 3.4% compared to the same day last year.

(Source b92)

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