11.10.2006.

Publishing and Application of NBS Exchange Rates

The Decision on the Conditions and Manner of Operation of the Foreign Exchange Market places the National Bank of Serbia in charge of organizing the Interbank Foreign Exchange Market session, to be held at 2:30 p.m. on each business day, with commercial banks and the NBS as participants. In the IFEM session, the middle exchange rate of the dinar against the euro is formed with reference to supply and demand and then published on the NBS website (www.nbs.yu) on the same day, by 4:00 p.m. at the latest. In this way, immediately after the IFEM session, information on the exchange rate is made available to all interested entities via the NBS Website. The exchange rate formed and published in this way is to be applied on the next day as the middle official exchange rate of the dinar against the euro.

Based on this exchange rate, by applying the principle of cross exchange rates, the NBS determines official middle exchange rates of the dinar against other currencies specified in the NBS decision on the types of foreign exchange and foreign cash to be purchased and sold in the foreign exchange market. This list will be published immediately after it is formed, and will be applicable on that business day until the publication of a new foreign exchange rate list. It will also be available on the National Bank’s website.

Press Release from Governor’s Cabinet