Skopje, 14 April 2003
Press release of the NBRM
On the occasion of the increased interest that the media showed today for the movements on the foreign exchange market and in the Denar exchange rate, the National Bank of the Republic of Macedonia informs the public about the following:
The stable exchange rate (the de facto fixed exchange rate) of the Denar relative to the Euro at the level of Denar 61.5 per one Euro has been agreed with the Letter of Intent with the International Monetary Fund within the Stand-by arrangement, and no changes are made in that regard. The movements on the foreign exchange and the exchange offices market since the beginning of the year have been balanced and the Denar exchange rate relative to the Euro corresponds to the supply and the demand on those markets.
The possible changes in the Denar exchange rate regime from fixed to a managed float, can be considered only after the termination of the arrangement with the IMF, which as agreed, shall last 14 months.
The National Bank of the Republic of Macedonia is issuing this press release to timely inform the public and to prevent the citizens from being taken in by any speculations broadcasted through certain media.
Governor’s Office
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