The official middle dinar exchange rate will have to be used in the future by travel agencies when forming the price and collecting payment for foreign holidays, as prescribed by the new Trade Law adopted by the Serbian National Parliament. This solution was suggested by the National Bank of Serbia (NBS) during the drafting of the law.
As stated in the NBS’ press release, such calculation of holiday prices will put a stop to travel agencies using the higher dinar exchange rate in forming prices of travel arrangements and in people paying for those arrangements.
“Thanks to the new Trade Law, the prices of holiday arrangements will be comparable and predictable, since the price will no longer be based on the daily exchange rates determined by the banks,” said the NBS.
With this solution, tourists will have the opportunity to plan the family budget for holidays abroad with greater certainty, since the price will be calculated and the travel arrangements paid using the official average exchange rate of the dinar which has not been fluctuating greatly for years now,” the NBS adds.
Want to open a company in Serbia? Click here!
In addition, travel agents who have so far calculated the prices and charged for travel services using the higher dinar exchange rate, as determined by banks, will no longer be able to make additional money gains on the basis of the difference in exchange rates.
The NBS points out that under the existing regulation, and now also under the new law, retailers are obliged to exhibit prices in dinars and only in exceptional cases can they display the price in foreign currency, for example, in the case trading in tourism services that are directly related to foreign countries.
However, in this case, according to the new law, travel agencies must clearly indicate that, when calculating prices of travel arrangements, they used the middle dinar exchange rate.
The new Trade Law was published in the Official Gazette of the Republic of Serbia and will enter into force on the eighth day after its publication, i.e. on 30th July 2019.
This post is also available in: Italiano