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22. January 2003 - Wednesday |
Euro exchange rate on the rise in Belgrade
BELGRADE – Heavy demand for euros in Belgrade exchange offices has caused a ump in the exchange rate of the common European currency.
A number of dealers are reported to have stopped selling euros, for fear of accumulating dinars ahead of a drop in their value.
Some dealers claim the sudden popularity of the euro is a result of the public dispute between Serbian Prime Minister Zoran Djindjic and the governor of the National Bank of Yugoslavia, Mladjan Dinkic.
Others say it is a direct consequence of the Euros current strong position against the Dollar.
Dinkic puts the change down to normal market fluctuations fuelled, he says, by demand from the banks for foreign currency for importers.
He dismisses fears of the street rate continuing to rise, saying the exchange offices still sell buy far more foreign currency than they sell.
It was much more important, said the National Bank governor, that the value of the dinar has jumped 2.5 per cent against the dollar but dropped only one per cent against the euro.
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