Exchange offices under „software“ control

Through the change of software, the National Bank of Serbia has prevented exchange offices to earn drastically on exchange rate differences, reports the Novosti daily.

The highest euro exchange rate in exchange offices in Serbia on Friday could be 119.94 dinars, and the lowest 116.98 dinars. And if any exchange officer wanted to „break through“ these limits and earn more money on the purchase and sale of foreign currency, he would not be able to do so.

The National Bank prevented, through changes in the computer program in exchange offices, the selling exchange rate from being higher, and the buying exchange rate from being lower than the official middle exchange rate of the dinar against the euro by more than 1.25%.

The commission amount is also limited, which can be a maximum of one percent when the exchange officer buys euros from retail clients.

The NBS has changed the software that authorized exchange officers use in around 2,700 exchange offices, thus practically preventing the euro exchange rate from being formed in a wider range than 1.25 percent compared to the official middle exchange rate of the dinar against the euro that is valid on a particular day.

It is also not possible to apply the commission exceeding one percent when purchasing regular banknotes in circulation, Novosti daily was told by the NBS.

According to the National Bank, the exchange business is being monitored as of January 1, including the compliance with the regulations limiting the lowest buying and the highest selling exchange rate when purchasing or selling foreign currency – the euro, as well as compliance with the regulations limiting the highest commission when buying regular banknotes that are in circulation.

Izvor: Novosti

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