Pursuant to the Decision on Operating Terms and Procedures in the Foreign Exchange Market (“RS Official Gazette”, No. 34/2009), trading in the foreign exchange market shall include spot, forward and swap foreign exchange purchases/sales, as well as foreign exchange purchases/sales with the execution date which is earlier than the spot currency date.

Pursuant to the Decision, spot foreign exchange purchases/sales shall mean purchases/sales of foreign exchange against dinars, taking place two business days from the day of conclusion of the purchase/sale agreement, and/or trading date (spot currency date).

Pursuant to the Decision, forward foreign exchange purchases/sales shall mean foreign exchange purchases/sales against dinars on a specified date after the spot currency date.

Pursuant to the Decision, swap foreign exchange purchases/sales shall mean concurrent contracting of foreign exchange purchases/sales against dinars on different execution dates.

Interbank Trade in the Foreign Exchange Market