NBS stops working with exchange offices in April

National Bank of Serbia (NBS) announced today (January 21, 2010) that it would stop working with authorized exchange offices on April 1st and that those works would be completely transferred to business banks.

- In mid-2006, when it started gradual withdrawal from the money exchange business, the share of NBS in that business amounted to 80% - it is stated in the announcement.

The central bank pointed out that, over the last three years, it had introduced many measures related to the works with exchange offices that had contributed to the fact that the reduction of its share in the money exchange business had no negative effects on the money exchange and overall foreign currency markets, while the foreign currency sales and purchases were still growing.

The share of NBS in the money exchange business in January 2009 amounted to 19.3%, and it was reduced to 1.57% in October 2009.