Dinar Holds at 117.54 per Euro as Markets Wait for October Inflation

The National Bank of Serbia set the official middle exchange rate at RSD 117.5417 per euro on Monday, 2 November, a negligible change from the end of last week.

Against the euro the dinar is unchanged on the month, 0.3% weaker than a year ago and 0.2% weaker since the start of the year. The central bank manages the dinar in a tight band against the euro, and the election and the change of majority have not moved it.

Weaker against the dollar

The picture is different against the US dollar. The indicative rate was RSD 105.3619 per dollar, 0.3% weaker than the previous day, 0.9% weaker than a month ago, 3.8% weaker year on year and 5.2% weaker since January, reflecting the dollar’s strength on international markets rather than domestic factors.

The week ahead

The Student List has said keeping the exchange rate stable will be one of its first priorities. The next test for markets is the October inflation figure on 12 November, after consumer prices rose 4.1% in September and the NBS held its key rate at 5.75%.