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September 29, 2003 - Monday |
Udovicki: Exchange rate stable, exclusively within competence of NBS
17:34 BELGARADE , Sept 29 (Tanjug) - The exchange rate of the national currency will remain stable thanks to the foreign currency reserves of the National Bank of Serbia (NBS) and an annual inflation that will not exceed 9 pct, and the central bank will have exclusive competence in determining the rate of exchange, said on Monday governor Kori Udovicki.
Asked whether the statement of Serbian Deputy Premier Cedomir Jovanovic, who said in Bor on Septemebr 26 that a "stable monetary policy is one of the priorities of the Serbian government" could mean that the government will interfere in the future in the monetary policy, Udovicki said that "the most important thing is that the Serbian government does not meddle in foreign policy matters. The governor emphasized that the Serbian government so far has not "even tried to influence the rate fo exchange." "The fact that members of the government are making (such) statements, could be very damaging in a country with a sensitive market," Udovicki cautioned and explained that in Serbia that was not the case, "because the rate of exchange is determiend exclusively by NBS moves."
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