The National Bank of the Republic of Macedonia Council held its XCII session today, on which several decisions regarding the foreign exchange and monetary sphere were reviewed and adopted.

Skopje, 29 November 2001

Press release of the NBRM

The National Bank of the Republic of Macedonia Council held its XCII session today, on which several decisions regarding the foreign exchange and monetary sphere were reviewed and adopted.

Firstly, the National Bank of the Republic of Macedonia Council was informed about the movements in the monetary and foreign exchange area, and it was stated that the National Bank of the Republic of Macedonia managed to maintain the stability of the foreign exchange rate of the Denar in the last months of this year, despite the large blows the Macedonian economy suffered, caused by the war developments in the country. It creates situation for certain relaxation in the monetary policy, which can already be seen in the decrease in the interest rates. However, it was emphasized that a slight economic development in the Republic of Macedonia has been evidenced. In addition, it was stated with great pleasure that the National Bank of the Republic of Macedonia purchased more than it sold foreign exchange on the foreign exchange market, lately, and that a remarkable increase in the foreign currency savings of the households in banks in the last few months was registered.

Ahead of the introduction of the Euro in the 12 member-states of EU, the NBRM Council adopted two decisions aimed at accomplishing a compliance with the provisions that regulate the purchase and selling of foreign currency on the foreign exchange market in the Republic of Macedonia, that determine the methodology of the Denar exchange rate against the foreign currency and that contribute to clearer time limits for accomplishing the forward transactions between the legal entities in the Republic of Macedonia.

The National Bank of the Republic of Macedonia Council was informed on the National Bank’s activities in its commitment to establish a numismatic collection and organizing the permanent exhibition of original, rare coins originating from the territory of the Republic of Macedonia, within the National Bank of the Republic of Macedonia, and adopted suitable decision in that regard.

Finally, the National Bank of the Republic of Macedonia Council praised the Payment System Department of the National Bank of the Republic of Macedonia for successful appliance of RTGS system, as a part of the payment system reforms that are implementing in the Republic of Macedonia.

The Governor’s Office