“The banking sector in Serbia is stable, liquid and in good condition,” said the governor of the Serbian National Bank, Jorgovanka Tabakovic.
“The National Bank (NBS) has maintained a stable exchange rate over time and has enough foreign currency reserves; we expect banks to show responsibility and understand that they cannot exist without citizens, businesses, clients in general,” Tabakovic underlined.
In addition to conducting a responsible policy and a moratorium on the repayment of various loans, the governor announced that a series of measures were being prepared to help citizens and businesses during this period of emergency, caused by the coronavirus.
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“They say that in times of crisis, everyone must show their skills and character. We have an obligation to preserve stability and earned trust. The National Bank of Serbia has maintained relative stability of the Dinar/Euro exchange rate over a long period of time which is not jeopardized even in these extraordinary circumstances.
“We have enough foreign currency reserves to guarantee security. At the end of February, total foreign currency reserves amounted to around 13.5 billion euro. In the last three years alone, when pressure for Dinar’s appreciation was big, the NBS purchased foreign currency and thus increased its reserves by more than five billion euro. This has further boosted the security of the national financial system in times like these,” Tabakovic concluded.
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