Portal:Serbia/Selected article/November

From Wikipedia, the free encyclopedia

The National Bank of Serbia (Serbian: Народна банка Србије or Narodna banka Srbije) is the central bank of the Republic of Serbia and as such its main responsibilities are the protection of price stability and maintenance of financial stability.

Core functions of the National Bank of Serbia include determining and implementation of the monetary policy, as well as that of the dinar exchange rate policy, management of the foreign currency reserves, issue of banknotes and coins, and maintenance of efficient payment and financial systems. Radovan Jelašić serves as the current Governor of the National Bank of Serbia.

Following the liberation from the centuries-long period of the Ottoman domination in the Balkans in the nineteenth century, the re-established Serbian state embarked on setting up the cornerstones of the new cultural and state institutions. Throughout this period of re-establishing national authorities, Serbia had no national legal tender and as many as 43 foreign currencies were in circulation.

What became acutely apparent at this point was a need to put Serbia’s monetary and treasury affairs in order and establish a national bank. The year 1854 saw the publication of an article entitled Current Monetary Crisis in the Srpske novine newspaper in which the author called for establishment of such an institution. Nevertheless, thirty years passed until this initiative was realized. It was only in 1884 that the institution entitled the Privileged National Bank of the Kingdom of Serbia was founded.

Further information: National Bank of Serbia