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23. January 2003 - Thursday |
Dinkic about Euro-Dinar Rate
Podgorica - Governor of National Bank of Yugoslavia (NBJ) Mladjan Dinkic admitted that the dinar-euro rate dropped somewhat since January. He estimated that the fluctuation was within limits of projected monetary politics for this year.
Dinkic says to Podgorica daily ‘Vijesti’ that NBJ would ‘see to it’ that such oscillations of dinar in the first month of this year remain of the same size in the following period. ‘If the pressure increases, we will prevent a big depression of dinar with interventions at the foreign currency market. The citizens and businessmen must get used to market oscillations in both directions’, the journal quoted Dinkic.
NBJ governor added that ‘it happened for several times already’. ‘Those who had counted on making some money on exchange rate oscillations made no profit.’ Dinkic said those were the banks that ‘generated much greater demand for foreign currency than usual. The demand then boosted the growth of exchange rate’. However, as Dinkic says, the banks ‘spent all the ammo’ there and their supply of dinars is now much smaller.
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