Tabakovic: NBS prevents big oscillations in rate

BELGRADE - National Bank of Serbia (NBS) Governor Jorgovanka Tabakovic has said that the dinar has strengthened, but that it is the central bank's task to prevent major volatility in the exchange rate.

"The dinar has strengthened, but it is our task to prevent too big oscillations in both directions, and we use all measures at our disposal to ensure that, including interventions in the interbank forex market," Tabakovic told daily Nase novine.

Since the beginning of the year, the NBS has sold EUR 90 million, and purchased EUR 380 million, the governor noted.

"Although we do not have any specific level of the rate in mind, the reasons behind the oscillations are such that the NBS must not stand still," Tabakovic said.

The NBS has the obligation to look at the full picture, to strive to ensure a low inflation rate, financial stability, and with its work and statements contribute to the system's overall stability, the NBS governor said.

Photo Tanjug, Z. Zestic (archive)