prijava
SARAJEVO, May 20 (FENA) - Security, liquidity and profitability are the basic principles of the Central Bank of Bosnia and Herzegovina in the management of foreign exchange reserves, it was underlined today at a thematic gathering of representatives of the Central Bank of BiH (CBBH) with representatives of BiH media.
In the case of the Central Bank of BiH, foreign exchange reserves serve as support and coverage of domestic currency, which arises from the provisions of the currency board arrangement as the chosen model of monetary policy in accordance with the Law on CBBH.
The Head of the Banking Department, Emina Ćeman, stated that the management of foreign exchange reserves is a complicated process, although the rules are prescribed by the legal framework, and it is implemented at three levels - strategic, tactical and operational.
The portfolio of foreign exchange reserves, as she added, is also exposed to financial risks, such as credit risk, liquidity risk, but also foreign exchange risk, and this is constantly being taken into account.
Speaking about foreign exchange reserves, Maja Zavođa, Head of the Front Office of the Banking Department, also referred to monetary gold, saying that every central bank in the world determines whether or not it will have gold reserves.
"It is the decision of each central bank individually. For example, Croatia has given up gold, while Serbia has such reserves, as well as the Central Bank of BiH, which has about three tons of gold," said Zavođa, adding that gold will never cease to be interesting to investors.
(FENA) S. R.
