Approximately KM 700.000 Exchanged in Serbian Exchange Offices

8/20/2003

Approximately KM 700.000 was exchanged in exchange offices across Serbia during the last month, which is the result of implementation of the Contract, signed between the Central Bank of BH (CBBH) and the National Bank of Serbia, on purchase of the KM through the currency exchange process.

Based on the Contract signed between the CBBH and the National Bank of Serbia, KM is, as of last month, listed at the currency exchange lists of Serbian exchange offices.

According to this Contract, the CBBH is obliged that it will purchase all KM that the National Bank of Serbia offers, which were earned through the exchange process, i.e., through buying and selling of KM in exchange offices that have signed the Contract with the National Bank of Serbia.

The National Bank of Serbia and the authorized exchange offices are buying and selling KM for dinars by using the sales exchange rate from the foreign currency exchange list, which is being issued daily by the National Bank of Serbia, which obliged itself that it will use the exchange rate 1 EUR : 1,95583 KM.

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