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Nov 16, 2017 16:06 EEST
November 16 (SeeNews) - The International Monetary Fund (IMF) resident representative in Serbia, Sebastian Sosa, said the Fund expects the Serbian dinar to continue strengthening in the next few months.
"The recent appreciation of the local currency is a signal of confidence, of the strength of the macroeconomic fundamentals," Sosa said in a video file posted on the website of news agency Tanjug on Wednesday.
There are also some external factors, such as low interest rates on international financial markets, which have generated steady inflows of foreign capital into Serbia and supported the dinar currency, Sosa said.
"We expect that trend to be maintained in the next few months. Of course, there can be some foreign-driven shocks that may cause fluctuations."
The dinar weakened to 125.221 per euro on April 23, its lowest value in 2017 thus far. The Serbian currency closed at 118.430 per euro on Wednesday, a 5.7% appreciation in about seven months.
Serbia's central bank governor Jorgovanka Tabakovic said earlier this week that the country's risk premium has fallen to a historical low of about 120 points this year.
(1 euro = 118.412 dinars)
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