Skopje, 24 June 2020
Citizens should be calm about the denar stability - there is no reason for concern. We guarantee that the denar has been and will remain stable. There will be no devaluation. Citizens should continue to keep their savings in denars - and economically it is more rational, given the different interest rates on denar and foreign currency savings, and guaranteed stability of the domestic currency.
This was stated by the National Bank Governor, Anita Angelovska Bezhoska, in a statement for Kanal 5 television, regarding the speculations about the denar stability. She pointed out that the central bank capacity to successfully deliver exchange rate stability can and should be trusted.
In the statement, the governor reminded that the National Bank has a high level of foreign reserves, as well as a number of instruments at its disposal to protect the denar exchange rate stability.
"If we managed to keep the denar stability in 2008 and 2009 with a significantly lower level of foreign reserves, now with this level of foreign reserves, there should be absolutely no dilemma that the denar stability will be guaranteed." pointed out Angelovska Bezhoska.
Our economy has entered a corona crisis with foreign reserves of over Euro 3 billion, more than double the 2008 figure when the previous global crisis occurred. Over the past two years alone, reserves level has risen by one billion euros.
As previously reported, the recent speculative claims related to the denar exchange rate have not been economically argued. The denar stability is guaranteed.
The video of the statement is available here.
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