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Government: don't worry, denar is stable.

There is no threat for the stability of the denar rate of exchange. Therefore, citizens should not worry, Government Spokesman Aleksandar Gjorgjiev said Thursday.

"We wish to reiterate and reassure that the exchange rate of the Macedonian national currency is stable and that the policies of the monetary and fiscal authorities yield results. There is no threat for the stability of the denar rate of exchange as evidenced by the increase in denar savings deposits," Gjorgjiev said.

According to him, the stability of the Macedonian currency is also confirmed by the fact that since the onset of the year Serbia allocated 1.2 billion dinars and Croatia 780 million dollars to defend their national currencies.

"The Republic of Macedonia on the other hand has not allocated any money for defending the rate of the denar. That shows we are conducting a good fiscal and monetary policy. Also, interventions are made in a way that provides additional strengthening of the denar rate of exchange without engaging a portion of the foreign exchange reserves to this effect," Gjorgjiev said.
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Title Annotation:BUSINESS NEWS
Publication:INFOMAC Daily News Service
Date:Aug 17, 2012
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