War in Ukraine causes panic in Serbia – rush to buy euros and fuel

Long queues formed at several petrol stations in Serbia over the weekend and many people even brought jerry cans, wanting to stock up on as much fuel as possible. Major exchange offices in Serbian cities are swamped as people are buying euros in droves for fear of inflation due to the war in Ukraine.

As an employee of one of Belgrade’s exchange office chains confirmed, there is a “general madness” was seen in their branches. “The situation is not at all pleasant and the demand for euros is huge,” he said.

The Pirana exchange office confirms that the demand for euros is higher than usual. “A few more people are buying euros than usual, I guess they are afraid of inflation,” said one of the employees.

The fear of inflation is reinforced by the fact that, for example, there were no euros to buy in most of the exchange offices in the southern town of Užice. The exchange rate fluctuated between 117 and 119 dinars for 1 euro and, where euros were available for purchase, even 120 dinars.

“At the moment we have no foreign currency to sell because there is a great demand for it. We only have dinars. I think this is a kind of psychosis,” said the owner of one of the exchange offices in Užice.

“I have only 30 euros to sell and that’s it,” said another employee of an exchange office in Belgrade. According to him, people started buying euros frantically a few days ago. “It’s definitely because of Ukraine, people are afraid,” he added.

(Nova, 06.03.2022)



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