NBS: During the control of exchange offices due to the illegal height of the exchange rate
The National Bank of Serbia (NBS) announced that today it started controlling exchange offices in Serbia based on its own knowledge and citizens’ complaints that the exchange rate in exchange offices is not in line with the NBS decisions according to which the selling rate for the euro cannot be higher. on that day by more than 1.25 percent, and the buying rate cannot be lower by more than 1.25 percent.According to the Law on Foreign Exchange Operations, for exchange offices that do not act in accordance with the regulations of the National Bank, a misdemeanor liability is prescribed for a legal entity, a fine of 100,000 to 2,000,000 dinars is envisaged, and for an entrepreneur from 10,000 to 500,000 dinars.

Also, since the NBS from January 1, 2019 controls the legality of exchange operations if the control procedure finds illegalities or irregularities, in addition to the request to initiate misdemeanor proceedings, the NBS may issue a decision to revoke the authority to conduct exchange operations if it determines that the authorized exchange office he did not execute the order for elimination of illegality, ie irregularities, which was given to him in the procedure of control of foreign exchange operations.

“We emphasize once again that there is no reason to panic, that the National Bank already provides banks with sufficient dinar and foreign currency liquidity, and the supply of banks with foreign cash has been increased so that exchange offices can respond quickly and efficiently to increased demand from citizens.” , the NBS said in a statement.

It was pointed out that the NBS has enough foreign currency and foreign cash and that we continue to supply the banking sector with sufficient quantities.

Therefore, citizens should not worry, nor should there be panic about withdrawing deposits from banks where the funds are the safest and which are well capitalized and very liquid, or about buying foreign currency in exchange offices. The NBS provides sufficient funds and responds to all the requests of the banks, which proves that we are ready to react without delay and adequately, “the central bank said.

The NBS expects the banks to transfer the cash to the exchange offices as soon as possible, which will meet the demand of the citizens, and has ordered the banks not to interrupt the supply of cash to the exchange offices at any time.

“At no time is the stability of the exchange rate and it will not be questioned and citizens should know that. It is not a question of whether the NBS has enough instruments and whether it will react. The National Bank of Serbia is already working continuously to preserve stability. “We have received a record high level of foreign exchange reserves of over 16 billion euros and we have quite enough funds and skills to preserve stability that has no alternative,” the NBS pointed out.

By Editor

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