NBS sets the maximum commission for exchange offices

The National Bank of Serbia (NBS) has amended its decision on the terms and conditions of foreign exchange transactions, thus requiring exchange offices to charge a commission of no more than 1% when selling and buying currency from an individual.

The euro/dinar exchange rate will now be formed by calculating deviations from the average exchange rate of 1.25% under or over, then adding a 1% commission.

For example, the official average exchange rate determined by the NBS for March 11 was 117.6470 dinars – if you add 1.25%, which is the maximum selling rate, and another 1% commission, you get 120.31 dinars for one euro.

The NBS’ decision also stipulates the exchange office’s list with all the currencies and exchange rates must be put in a prominent place, visible for everyone, and it must show the commission of up to 1%. Until now, the exchange office’s commission on the sale of euros and other foreign currency was not limited.

The decision came after the NBS sent carried out control in several exchange offices that were suspected of selling euros at a higher exchange rate than allowed.

(Blic, 13.03.2022)

https://www.blic.rs/biznis/vesti/guvernerka-ogranicila-menjacnice-nova-odluka-stupila-na-snagu-nbs-je-menjacima-sada/8zg5pef

 

 

 

 

This post is also available in: Italiano

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