Q:
A:
Amount of foreign reserves guarantees stability of dinar
Belgrade,
19 May 2010
Minister of Finance Diana Dragutinovic said today that by withdrawing loans for the construction of infrastructure the state will contribute to improving the supply of foreign currency in the country and therefore the stabilisation of the dinar exchange rate.
Dragutinovic told today's edition of the daily newspaper Blic that it is necessary that the National Bank of Serbia (NBS) in future prevents sudden changes in the exchange rate occurring as a result of speculative attacks, and reiterated that the amount of foreign reserves guarantees the defence of the domestic currency against such attacks.
The Minister said that so far there has been no dramatic change in the exchange rates, and that, considering the economic position of the country, the changes can be described positively.
She said that the dinar exchange rate changes over the last year and a half were mostly gradual, so that the economy and people had time to adjust to the new rate.
Foreign trade and balance of payments show significant signs of improvement, said Dragutinovic and recalled that this was due to the depreciation of the dinar and a significant reduction in domestic spending.
The Minister said that so far there has been no dramatic change in the exchange rates, and that, considering the economic position of the country, the changes can be described positively.
She said that the dinar exchange rate changes over the last year and a half were mostly gradual, so that the economy and people had time to adjust to the new rate.
Foreign trade and balance of payments show significant signs of improvement, said Dragutinovic and recalled that this was due to the depreciation of the dinar and a significant reduction in domestic spending.
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