12.03.2015.

Unrealistic Dinar Exchange Rate Quotations in Some Portals and Internet Sites

After the domestic foreign exchange market closed yesterday, several prominent portals and internet sites covering exchange rate movements (e.g. Bloomberg, Reuters, Investing, XE.com, Yahoo Finance, etc.) reported unrealistic strengthening of the dinar, i.e. a fall in the EUR/RSD exchange rate to the level which does not correspond to the actual market developments (depending on the data source, the exchange rate ranged from 106 to 118 dinars for one euro).

Without prejudging the reasons for unrealistic presentation of exchange rate movements, i.e. whether intentional or technical, the NBS underlines that market participants should not be misled, especially as these data were reported after the market closing time. We wish to reiterate that the NBS remains committed to the managed float exchange rate regime and to the policy of easing excessive short-term volatility of the exchange rate. 

Further confirmation of the irrelevance of these reports are the results of today’s trading in the interbank foreign exchange market. Based on that trading, the official middle exchange rate tomorrow will be 120.5179 dinars for one euro.  

As so far, NBS activities in the coming period will aim to facilitate smooth functioning of the foreign exchange market.

Governor`s Office