Skopje, 4 June 2001

PRESS RELEASE OF THE NBRM

The National Bank of the Republic of Macedonia, according to its function stipulated in the Constitution i.e. maintaining the macro-economic stability, starts with issuance of Central Bank bills from Wednesday (06.06.2001), which can be purchased also by the legal entities in the Republic of Macedonia through the banks. The maturity of the Central Bank bills shall be of 3, 7, 14, and 28 days. The interest the National Bank of the Republic of Macedonia pays, equals 13%, 14%, 14% and 15%, respectively, on annual basis.

After the expiration of the maturity date of the Central Bank bills, they can be sold to the NBRM or their maturity date can be extended, depending of the owners of the Central Bank bills wish and the monetary policy of the National Bank of the Republic of Macedonia in that period.

At the same time, The National Bank of the Republic of Macedonia Council brought a decision on increasing the reserve requirement ratios by 1.5 percentage points.

These, as well as other measures, which are or shall be undertaken by the National Bank of the Republic of Macedonia, are in function of:

·          maintenance of price stability;

·          stability of the foreign exchange rate of the Denar;

·          stopping the foreign exchange reserves decrement, etc.

Simultaneously, applying these measures, the National Bank of the Republic of Macedonia contributes the budget policy to accomplish its commitments for the defense of the country segment, more easily.

The Governor’s Office