Central bank makes statement: What is happening with exchange rate and Postanska Stedionica

The exchange rate of the dinar is stable, and the financial system is not at risk, the National Bank of Serbia announced today. The central bank stated that it is monitoring the operations of Banka Postanska Stedionica and that the bank is duly meeting all its obligations to clients. It also confirmed that the payment of pensions and other benefits from the Republic of Serbia’s budget is being carried out on schedule.

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"The NBS is making every effort to ensure stable and efficient functioning of the domestic financial system, particularly in the areas of safeguarding monetary and financial stability, ensuring reliable and efficient operation of payment systems, and protecting financial services consumers. In these efforts, we enjoy the full cooperation of financial institutions, particularly banks, whose professional and responsible conduct contributes to the security and stability of the financial system," a statement said.

The central bank drew attention to some of the measures undertaken by the NBS to safeguard public confidence in the financial system of the Republic of Serbia:

"The NBS supervises the operations of Banka Postanska Stedionica on a daily basis and on-site, and through the measures it has taken, ensures the security of the bank’s operations with households and corporates. Banka Postanska Stedionica is duly meeting all its obligations to clients, while the payment of pensions and other benefits from the Republic of Serbia’s budget is being carried out and will continue to be carried out within regular payment deadlines.

We ensure that all liquidity support measures remain available to banks in order to support the normal functioning of the financial system.

In response to increased demand for foreign currency, primarily from households, and by using our FX reserves, which are high by all adequacy metrics, we are maintaining exchange rate stability and will continue to do so.

Through direct contact with banks and authorized exchange dealers, we support the smooth flow of foreign cash, thereby ensuring the supply of foreign currency to citizens whose demand for it has increased."

Payment systems are operating smoothly, and banks and other payment service providers are able to provide payment services to households and businesses without disruption. Over the past ten days, the average daily number of transactions processed through the NBS RTGS, Clearing and IPS payment systems amounted to 1,100,000, in line with the daily average recorded in the first nine months of this year, the NBS said.

"It is very important that everyone act towards the same goal – safeguarding the stability of our country and serving the interests of its citizens," the statement concluded.

(Telegraf Biznis/Tanjug)