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PM: Market determines most favorable exchange rate

15. June 2011. | 11:59

Source: Beta

Prime Minister Mirko Cvetkovic said on June 14 that the government believed the most favorable exchange rate was the one set by the market, as well as that groups with specific interests influenced the value of the dinar.

Prime Minister Mirko Cvetkovic said on June 14 that the government believed the most favorable exchange rate was the one set by the market, as well as that groups with specific interests influenced the value of the dinar.

The National Bank of Serbia reported on June 14 that the dinar had weakened against the euro by 1.98 percent, meaning that the official mean exchange rate was RSD99.9156 to EUR1.

At a press conference with Hungarian Prime Minister Viktor Obran, Cvetkovic said: "the fluctuations in the dinar exchange rate since the beginning of the year have demonstrated the complexity of this problem and the interests involved in defining the exchange rate."

He also said that during last autumn's rise of the value of the dinar certain groups had criticized it as being bad.

The prime minister added that all interests "basically refract through the market," and that was why the government believed "that the most favorable exchange rate is the one set by the market."

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