Serbian central bank intervenes to alleviate RSD volatility

National Bank of Serbia, Belgrade (jaime.silva, CC BY-NC-ND)

Swedish telecom will hire 400 IT specialists in Lithuania

Poland’s interest rates left unchanged

Serbia

SeeNews Corporate Wire reports on the Serbian central bank (NBS) intervention aimed at alleviating the “excessive volatility of the RSD exchange rate”. As informed, in May 16th, 2018, NBS purchased EUR60m from commercial banks so as to “stem gains of the local dinar (RSD) currency”. As informed, NBS is “implementing a managed float exchange rate regime based on supply and demand to preserve price and financial stability and to maintain an adequate level of foreign exchange reserves”.

The official rate for Thursday, May 17th was set at RSD 118.1503 per EUR1.

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Lithuania

Swedish telecommunications company Telia plans to hire 400 IT specialists at its services centre in Vilnius (Lithuania) by the end of 2018. Telia has already invested more than EUR1.4bn in the development of telecommunications in Lithuania since 1992. The first group’s services centre in the country will be opened in October 2018.

The CEO of the company, Johan Dennelind, met with Lithuania’s Prime Minister Saulius Skvernelis. Telia wants to be Lithuania’s “partner to create highly skilled jobs, contribute to increasing cybersecurity of the country and to continue to strengthen Lithuania’s digital leadership in every way”.

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Poland

The reference rate in Poland remains at 1.5 per cent. Poland’s Monetary Policy Council (MPC, body of Narodowy Bank Polski, the central bank of Poland), during its latest meeting, decided to leave interest rates intact – the Polish Radio informs.

The last time MPC changed interest rates in March 2015. It trimmed rates by 50 basis points, explaining it was a move “closing a cycle of monetary policy easing”.

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What’s up in indexes

BET (of Bucharest) decreased from 8,689.50 index points Tuesday, May 15th to 8,628.99 index points Wednesday, May 16th. It’s down 0.70 per cent d/d and up 2.06 per cent y/y.

BUX (of Budapest) decreased from 37,663.78 index points Tuesday, May 15th to 37,575.00 index points Wednesday, May 16th. It’s down 0.24 per cent d/d and up 10.26 per cent y/y.

CROBEX (of Zagreb) decreased from 1,846.43 index points Tuesday, May 15th to 1,844.19 index points Wednesday, May 16th. It’s down 0.12 per cent d/d and up 1.19 per cent y/y.

OMXR (of Riga) increased from 1,041.95 index points Tuesday, May 15th to 1,073.15 index points Wednesday, May 16th. It’s up 2.99 per cent d/d and up 28.16 per cent y/y.

OMXT (of Tallinn) increased from 1,257.49 index points Tuesday, May 15th to 1,259.07 index points Wednesday, May 16th. It’s up 0.13 per cent d/d and up 12.92 per cent y/y.  

OMXV (of Vilnius) decreased from 713.49 index points Tuesday, May 15th to 708.17 index points Wednesday, May 16th. It’s down 0.70 per cent d/d and up 20.80 per cent y/y.

PX (of Prague) decreased from 1,106.30 index points Tuesday, May 15th to 1,106.06 index points Wednesday, May 16th. It’s down 0.02 per cent d/d and up 7.69 per cent y/y.

SAX (of Bratislava) decreased from 335.90 index points Tuesday, May 15th to 329.85 index points Wednesday, May 16th. It’s down 1.80 per cent d/d and up 8.34 per cent y/y.

SOFIX (of Sofia) decreased from 643.17 index points Tuesday, May 15th to 642.57 index points Wednesday, May 16th. It’s down 0.09 per cent d/d and down 2.77 per cent y/y.

UX (of Kyiv) decreased from 1,813.16 index points Tuesday, May 15th to 1,805.54 index points Wednesday, May 16th. It’s down 0.42 per cent d/d and up 93.96 per cent y/y.

WIG20 (of Warsaw) decreased from 2,276.45 index points Tuesday, May 15th to 2,275.91 index points Wednesday, May 16th. It’s down 0.02 per cent d/d and down 2.75 per cent y/y.

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