Denar stability and the measures of the National Bank create space for growth of Denar savings

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The main anchor that enables overcoming many challenges in the past, but even now, is the strong commitment of the National Bank to implement the monetary strategy of stable exchange rate of the Denar, as a key pillar of stability of the Macedonian economy, said Vice Governor EmilijaNacevska in her welcoming address at the 27th Annual Assembly of the ACI Financial Markets Association.]

According to the Vice Governor, for the efficient implementation and functioning of the monetary policy, especially in uncertain periods, the financial markets and the banks have an important contribution, which follow the signals of the central bank and react accordingly through their business policies and activities.

The energy crisis of the end of 2021 and the uncertainty created by the military conflict in Ukraine, significantly affected the import prices of energy in our country, with the first blow to the domestic economy reflected on the domestic foreign exchange market.

In that context, the Vice Governor pointed out that “the rapid reaction of the National Bank through foreign exchange market interventions to meet the needs for foreign exchange, support from commercial banks, as well as verbal interventions in the public to communicate effectively for the strategic commitment of the National Bank enabled exchange rate stability”.

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