Fiat Chrysler Automobiles : New Year Begins with Modernisation of Reporting and Harmonisation with Current International Practice

New Year Begins with Modernisation of Reporting and Harmonisation with Current International Practice

As of 3 January 2020, the NBS starts publishing a new Overview of the global financial market developments, upgraded and more easily accessible to wider public. In this way we seek to enhance, innovate and visually improve the reporting on global financial market trends, in accordance with the current international practice and similarly to major global financial institutions, all with a view to greater benefits for end users. As the NBS will continually make efforts to that effect, further improvements may be expected in the period ahead.

Moreover, aiming to harmonise with the common practice of the majority of central banks across the world, while preserving a high level of work transparency, in the future the NBS will publish data about its FX market activities on a monthly basis by issuing a regular press release on FX Reserves and IFEM Movements. Thus, the public will be informed thoroughly and correctly about the amounts of interventions in the FX market, and the possibility for incomplete or incorrect summing, misinterpretation or misreporting will be reduced to a minimum.

We stress that the NBS approach to monitoring developments in the domestic FX market and implementation of FX interventions remains unchanged as there is no alternative to stability. The NBS will continue to keep track of and analyse all the relevant factors affecting the domestic FX market and it will react on both sides as the need arises, by purchasing or selling foreign currency, with the aim of easing the excessive short-term volatility of the exchange rate of the dinar against the euro, preserving the price and financial system stability and maintaining an adequate level of FX reserves.

Monetary and Foreign Exchange Operations Department