CENTRAL BANK BIH IS NOT COMPETENT FOR FOREIGN EXCHANGE TRANSACTIONS WITH INDIVIDUALS AND DOES NOT INFLUENCE CHOICE OF CURRENCIES TO BE EXCHANGED IN COMMERCIAL BANKS AND EXCHANGE EXCHANGE

SARAJEVO, JUNE 7 (ONASA) – In the past few days, information has appeared in the public domain that commercial banks and exchange offices in Bosnia and Herzegovina have stopped accepting and exchanging Norwegian kroner banknotes, and in some cases Swedish and Danish kroner banknotes, and that this caused by the decision of the Central Bank of Bosnia and Herzegovina (CBBH).
The Central Bank of Bosnia and Herzegovina says that no decision has been made regarding the suspension of the acceptance of the mentioned currencies in commercial banks/exchange offices in Bosnia and Herzegovina, as well as that it is not competent for exchange transactions with natural persons in BiH.
In accordance with entity laws on foreign exchange operations, exchange operations can be performed by commercial banks, as well as by residents – other legal entities and entrepreneurs who have concluded a contract with the bank, are authorized by the competent entity ministry of finance and are registered to perform exchange operations.
They note that commercial banks and authorized money changers in BiH freely decide whether to trade in a foreign currency in accordance with their business policy and the possibility to exchange that currency with a foreign bank on the foreign exchange market.
According to publicly available information, significant fluctuations in the exchange rate of the Norwegian krone against the EUR currency and thus against the BAM are visible, whereby the value of the Norwegian krone significantly depreciated against the aforementioned currencies, i.e. lost its value.
“As we know, foreign commercial banks have stopped buying the Norwegian krone in the process of buying and selling effective foreign currency, and consequently commercial banks and exchange offices in BiH. Financial institutions abroad and BiH can suspend exchange in the event of a drop in the value of a currency in order to protect against further reduction value, which may be of a temporary nature until the situation with the exchange rate of that currency stabilizes. In any case, citizens should seek information about the possibility of exchange or the reasons for possible non-exchange of the Norwegian krone and any other foreign currency directly from commercial banks and authorized exchange offices, that is, where exchange transactions are carried out,” the Central Bank of Bosnia and Herzegovina said.