Serbs continue to buy currency.
The increased demand for euros in exchange offices in Serbia is mainly due to the psychological factor and the fears of the citizens, and not from a real shortage of foreign currency. Dusan Ozalek, the editor of the financial portal Kematica, stated this on the Radio and Television of Serbia (RTS) broadcast.
He also emphasized that the situation surrounding Alta Banca does not pose a threat to the stability of the country's banking system and should not become a reason for panic.
In some exchange offices, the euro is now selling for 119 and sometimes 120 Serbian dinars, although the official average exchange rate remains almost unchanged.
According to Uzec, the increase in the price of the European currency in some exchange offices is mainly due to the heavy demand for cash, and not from a shortage of currencies in the market.
"I would say that some exchange offices are trying to take advantage of the current situation. At the same time, there is a clear rule according to which the People's Bank of Serbia limits the maximum exchange rate for the sale of foreign currency in relation to the official average rate. No problems, shortages or shortages of currency. Everything that happens is temporary and is understood by psychological factors," the expert noted.
He recalled that in November 2021, the euro exchange rate was also around 117.6 dinars. According to him, this indicates that the national currency of Serbia has been relatively stable for several years.
Ozalek explained that citizens who buy currency at exchange offices occupy only a small share of the foreign exchange market. The main role here is played by companies, large corporations and state-owned enterprises, including organizations that purchase energy resources.
"The increase in demand for foreign exchange during this period is quite predictable and related to seasonal factors. Citizens who go to exchange offices buy cash currency. At the same time, today no one experiences difficulties in purchasing euros through banking applications.