NBS Reduces Earnings for Exchange Offices – Euro Mustn’t Be More Expensive Than RSD 120.31

The National Bank of Serbia (NBS) has abolished for exchange offices the unlimited fee on the sale exchange rate of the euro and other foreign currencies, reports N1. According to the new decision, which applies from today, exchange offices will be able to calculate 1% at the most on the euro sale exchange rate, which means that, on Friday, the euro mustn’t be more expensive than RSD 120.31 at any exchange office in Serbia.

– An exchange office can charge a fee for its service. In buying or selling cash, the public postal operator and authorized exchange office may charge a fee of 1% at the most from natural persons – says the amended Decision on the conditions and manner of carrying out exchange office activities, which was published in the Official Gazette on Thursday afternoon, to be implemented a day later.

Up till now, exchange offices could calculate a fee of 1% in purchasing foreign exchange from citizens, whereas the fee in selling euros or other foreign currencies was not limited.

The official middle exchange rate of the NBS on March 11 amounts to RSD 117.6470, and when 1.25%, the maximum sale exchange rate, is added to it and then also a 1% fee, one euro can cost citizens no more than RSD 120.31 at exchange offices.

Counterwise – when 1.25%, the minimum purchase rate at exchange offices, is subtracted from the middle exchange rate and when that sum is then reduced by a 1% fee, one gets the sum of RSD 115.01, the minimum amount for which citizens can sell one euro at exchange offices.

So, today, the price of one euro at exchange offices, including the maximum fee, can range between 115.01 and 120.31 dinars.

Narodna banka Srbije Beograd

National Bank of Serbia

NBS

unlimited fee

euro sale exchange rate

foreign currency sale exchange rate

Decision on the conditions and manner of carrying out exchange office activities

purchase of foreign exchange

purchase exchange rate at exchange offices

exchange office activities