The selling rate of the euro in some exchange offices and banks has already broken through 120 dinars, and there is a fear of an additional increase among construction workers. However, the exchange rate cannot "run wild" indefinitely - unless the NBS changes it.
Uncertainty about sanction to NIS is definitely already making changes on the financial market in Serbia.
The official average exchange rate of the euro on Wednesday, December 10, is 117,4214 dinars, which is again a slight increase compared to the day before. However, when you look at the exchange rate, which is normally prescribed by the National Bank of Serbia, from a month ago - the growth is evident, so we reached 120 dinars for the euro in some exchange offices, while banks offer even less favorable terms.
The country's central bank restricts exchange offices, so they cannot offer foreign currency at the exchange rate they deem appropriate. They can sell the euro for a maximum of 1,25 percent more than the official mid-rate on that day. Nevertheless, the NBS allows the exchange offices to calculate another one percent of additional profit in this ratio. Thus, at the middle exchange rate, which is less than 117,5 dinars, the purchase price of the euro exceeds 120 dinars.
The exchange rate list for those who exchange money in banks is different, because they do not fall under the restrictions of the National Bank of Serbia. These limits of plus or minus 1,25 percent of the average exchange rate do not apply to them. Thus, as a rule, the exchange rate of the euro in private banks is much higher than that in exchange offices and already greatly exceeds 120 dinars for one euro.
NBS publishes data on its website on the maximum amount of dinars that banks charge when selling securities. They are submitted to the NBS every working day.
Citizens who have large loans, especially those with housing loans, are not in big problems since the exchange rate changed. Although banks do not have an obligation in their exchange offices to adjust the foreign exchange rate in relation to the middle exchange rate of the NBS, they still have the obligation to collect loans in dinars, which are indexed in euros, at the middle exchange rate of the National Bank of Serbia on the day of collection.
What can be a problem for citizens in these cases is that the NBS starts raising the average exchange rate of the euro more seriously. In the case of large loans, this percentage of the difference in installments could also be substantial.
If, however, there is a large gap between supply and demand, and because of that, the restriction of the euro, theoretically there is a possibility to create a black foreign exchange market, which the citizens of the country already experienced in the 1990s.
The National Bank of Serbia increased the reference interest rate to six percent, for the first time in more than two years. What does this decision mean for citizens who pay off loans, those who plan to borrow and savers?
The state currently has no money for the second installment of subsidies per hectare, announced the Minister of Agriculture in the technical mandate, Dragan Glamočić. Farmers were waiting for the promised help before the autumn sowing, while agro-economic analysts warn that the government's technical mandate does not release the state from its obligations.
The leakage of half a million liters of oil near Sisak stopped the transport of Janaf, on which the supply of the Refinery in Pancevo depends. NIS has requested access to state reserves, and experts warn that a longer interruption could stop production at the Refinery
The import of fossil fuels has cost Serbia more than 57 billion dollars in the past two decades, with a high price for the environment and the health of citizens. The energy transition is expensive, but its delay seems to be even more expensive
Due to damage to the pipeline on the Adriatic pipeline, crude oil transport to Serbia has been suspended, and the Pancevo Refinery is adjusting the volume of processing. NIS also requested diesel from operational reserves
At the moment when the institutions of the Republic are destroyed, when Vučić's octopus is still alive, when people are disgusted by the injustice and the stench left behind by the Essenes regime, we have, as Machiavelli said, only civic virtue as the fuel with which we can return to the beginning
The four independent members of REM are an example of perseverance and civic responsibility. Rodoljub Šabić even, upon leaving the premises of REM, after the sentencing of the Informer, experienced that the Essenes insulted him, hit him with their hands and feet. But that too will soon be over
Vučić pardoned the batterers and Dijana Hrkalović. The election winners should abolish the sultan's power that allows one man to run afoul of the entire judicial system
Interview: Branko Stamenković, public prosecutor of the Supreme Public Prosecutor's Office
A black picture and the breakdown of the rule of law subscribeThe archive of the weekly Vreme includes all our digital editions, since the very beginning of our work. All issues can be downloaded in PDF format, by purchasing the digital edition, or you can read all available texts from the selected issue.
See all
