Skopje, 5 July 2001
Press release of the NBRM
The National Bank of the Republic of Macedonia Council brought several decisions from the monetary and foreign exchange policy area today, in order to reached further stabilization in the developments on the foreign exchange market and maintenance of the foreign exchange rate of the Denar as a nominal anchor in the Macedonian economy. through their implementation.
Namely, the NBRM Council brought a Decision on the modification of the Decision on the calculation, allocation and utilization of the compulsory reserve of banks and maintenance of their daily liquidity, and a Decision on modifications and amendments of the Decision on the measures and procedure for actions against banks in case of their temporary or permanent illiquidity. Both these decisions refer to the intensified conditions, the manner and the kind of the corrective actions the NBRM undertakes against banks in case they don’t fulfill their obligations for allocation of compulsory reserve and in case of their temporary and permanent illiquidity. However, the NBRM Council brought a Decision on keeping the foreign exchange deposit and a Decision on amending the Decision on the manner and conditions of buying-selling of foreign exchange between the legal entities in the Republic of Macedonia. These decisions, in accordance with the modifications and amendments of the Law on Foreign Exchange Operations, determine the right of the National Bank of the Republic of Macedonia to determine the deadline for keeping the foreign exchange by local persons in deposits with banks authorized for payment operations with abroad, achieved by export of goods and services.
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