Fitch: The Denar remains stable


The Denar remains stable – the fixed exchange rate is a key anchor to the stability of the Macedonian economy. Foreign exchange reserves reached 3.7 billion euros in September and given the good external position, we expect that they will be stable in 2022 and 2023, maintaining adequate coverage. External risks are further mitigated by the reply line approved by the European Central Bank to the National Bank. These are some of the findings of the credit rating agency “Fitch”, presented in the report which confirms the credit rating of the country.

The report emphasizes the reduction of the key interest rate to the historically lowest level and Fitch’s expectation for a weakened monetary policy of the National Bank in the next period, in the absence of an increase in the inflation rate over the next year and in the absence of further pressures. on the domestic foreign exchange market.

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