Serbia adds Turkish lira to FX market currency list
THE NATIONAL Bank of Serbia (NBS) has reviewed a decision to add the Turkish lira to its list of currencies that can be traded on the foreign exchange (forex) market.
The decision on the Types of Foreign Exchange and Foreign Cash to Be Purchased and Sold in the Foreign Exchange Market, was adopted by the NBS Executive Board yesterday.
The NBS was likely motivated by Turkey’s share in Serbia’s foreign trade and by the potential of stronger economic cooperation between the two countries. The growing number of Turkish citizens visiting Serbia was also taken into account.
The introduction of the Turkish lira on the forex market will also better facilitate bilateral relations, positively affect foreign trade volume, and promote joint economic projects between the two countries.
The bank also reported that the Turkish lira will be introduced with the tag TRY and the numeral 949. The decision will come into force on Dec. 1, 2017.
Turkey and Serbia, both hopeful of joining the European Union, decided to improve bilateral ties, investments and trade during President Recep Tayyip Erdoğan’s recent visit to Belgrade.