Economy of the European Union

Domestic currency sinks to 123 per euro

BELGRADE -- The Serbian dinar (RSD)is down by 0.5 percent against the euro (EUR) on Tuesday, with the official exchange rate at a record low of RSD 123.4677 for one euro.

BELGRADE - Serbian dinar is down by 0.5 percent on Tuesday, setting the official exchange rate at the record low RSD 123.4677 per one euro, reads a statement by the National Bank of Serbia (NBS).

The Serbian currency is down 2.3 percent against the Eurozone's single currency compared to a month earlier and 6.5 percent compared to a year earlier.

Central bank has no plans to fix Swiss franc rate

BELGRADE -- The National Bank of Serbia (NBS) does not intend to introduce Swiss franc rate fix, NBS Governor Jorgovanka Tabakovic stated on Monday.

Such a move would cause "immeasurable losses to the banking sector," she said.

Serbian currency hits record low against euro

BELGRADE -- The Serbian dinar (RSD) is down by 0.2 percent on Monday, setting the official exchange rate at the record low RSD 122.9081 per one euro.

The Serbian currency is down 1.8 percent against the eurozone's single currency compared to a month earlier and 6.0 percent compared to a year earlier, the central bank (NBS) said.

The euro sank to an 11-year low on Jan. 26 and Asian equities were muted after an anti-austerity party won Greece's election, throwing its international bailout into doubt and raising fears it could leave the eurozone.
 

I always dismissed arguments that the eurozone?s time as an economic power was up, pointing out the strengths of the common currency area. But I finally realized that I have been wrong all along.

The European Central Bank (ECB) will buy EUR 60B in assets per month from March 2015 until end-September 2016 to stimulate flagging economic growth in Europe, the bank's President Mario Draghi announced on Thursday.

The European Central Bank kept interest rates unchanged at record lows and said President Mario Draghi will announce further policy measures at a media briefing later.

 State will have to draw an additional 4.5-5.5 bln euros, which banks can only access through the mechanism

By Sotiris Nikas

Greek banks will require additional liquidity amounting to 4.5-5.5 billion euros in February and March to cover scheduled and extraordinary issues of treasury bills ? in other words, the cash needs of the state.

Excluding Greek bonds from any European Central Bank quantitative easing program would be bad news for the country's recently upgraded credit rating, the main ratings agencies said.