National Bank of the Republic of Macedonia

03/04/2026 | Press release | Archived content

Vice Governor Mitreska: Continuity of the policy of a stable exchange rate and maintenance of macroeconomic stability

Skopje, 4 March 2026

"The National Bank carefully monitors all the movements related to the Middle East conflict and is ready to respond with appropriate instruments in case of more pronounced and longer-term effects on the domestic economy", said the Vice Governor Ana Mitreska in an interview for TV Telma.

"So far, the most plausible scenarios are moderate, with estimates for faster calming of the military operations, limited effects on the supply and energy prices and smaller economic consequences. If there is escalation and if the effects of the conflict are longer-term, with stronger pressures on inflation and foreign reserves, the central bank has room to respond with several stabilization instruments it has at its disposal", Mitreska said.

Mitreska pointed out that the channels of transmission of the growth of the world energy prices in our country are direct and indirect. Direct effects refer to the transfer of this growth directly to domestic prices, and total imports. We would feel the indirect effects through the changes in the economic prospects of our trading partners, i.e. the European Union countries. The current estimates for the consequences of the conflict for the European economy point to limited effects on inflation and growth or, in other words, there are no expectations for some major changes in the external environment for the domestic economy observed through this perspective.

"The National Bank constantly monitors the situation and the possible effects on the Macedonian economy. In recent years, in parallel with the crisis management, we have been building additional room and capacity to mitigate the possible new shocks. Foreign reserves are currently about 70% over the pre-pandemic level, and the resilience of the banking system, according to all parameters, was further strengthened in the past few years. Hence, there is no dilemma about the continuity in maintaining the stability of the exchange rate and the overall macroeconomic stability", Mitreska said.

The full interview is at the following link: https://www.youtube.com/watch?v=t_fzRC_VC6A

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Vice Governor Mitreska: Continuity of the policy of a stable exchange rate and maintenance of macroeconomic stability

Skopje, 4 March 2026

"The National Bank carefully monitors all the movements related to the Middle East conflict and is ready to respond with appropriate instruments in case of more pronounced and longer-term effects on the domestic economy", said the Vice Governor Ana Mitreska in an interview for TV Telma.

"So far, the most plausible scenarios are moderate, with estimates for faster calming of the military operations, limited effects on the supply and energy prices and smaller economic consequences. If there is escalation and if the effects of the conflict are longer-term, with stronger pressures on inflation and foreign reserves, the central bank has room to respond with several stabilization instruments it has at its disposal", Mitreska said.

Mitreska pointed out that the channels of transmission of the growth of the world energy prices in our country are direct and indirect. Direct effects refer to the transfer of this growth directly to domestic prices, and total imports. We would feel the indirect effects through the changes in the economic prospects of our trading partners, i.e. the European Union countries. The current estimates for the consequences of the conflict for the European economy point to limited effects on inflation and growth or, in other words, there are no expectations for some major changes in the external environment for the domestic economy observed through this perspective.

"The National Bank constantly monitors the situation and the possible effects on the Macedonian economy. In recent years, in parallel with the crisis management, we have been building additional room and capacity to mitigate the possible new shocks. Foreign reserves are currently about 70% over the pre-pandemic level, and the resilience of the banking system, according to all parameters, was further strengthened in the past few years. Hence, there is no dilemma about the continuity in maintaining the stability of the exchange rate and the overall macroeconomic stability", Mitreska said.

The full interview is at the following link: https://www.youtube.com/watch?v=t_fzRC_VC6A

INFLATION

EXCHANGE RATES

Counrty

Currency

MiddleRate MKD

EMU
EUR

61.6950

USA
USD

53.1029

U.K.
GBP

70.9546

Switzerland
CHF

68.0660

More

EXCHANGE RATES

for the period: 06.03.2026- 06.03.2026

Counrty Code Currency Unit BuyingRate MiddleRate MKD SellingRate
EMU 978 Euro EUR 1 NaN 61.6950 NaN
USA 840 US dollar USD 1 NaN 53.1029 NaN
U.K. 826 Pound sterling GBP 1 NaN 70.9546 NaN
Switzerland 756 Swiss franc CHF 1 NaN 68.0660 NaN
Sweden 752 Swedish krona SEK 1 NaN 5.7721 NaN
Norway 578 Norwegian krone NOK 1 NaN 5.5016 NaN
Japan 392 Japanese yen JPY 1 NaN 0.3371 NaN
Denmark 208 Danish krone DKK 1 NaN 8.2573 NaN
Canada 124 Canadian dollar CAD 1 NaN 38.9784 NaN
Australia 036 Australian dollar AUD 1 NaN 37.4136 NaN
Czech Republic 203 Czech koruna CZK 1 NaN 2.5289 NaN
Hungary 348 Hungarian forint HUF 1 NaN 0.1592 NaN
Poland 985 Polish zloty PLN 1 NaN 14.4400 NaN
Romania 946 Romanian leu RON 1 NaN 12.1130 NaN
Turkey 949 Turkish lira TRY 1 NaN 1.2070 NaN
Russia 643 Russian rouble RUB 1 NaN 0.6755 NaN
Brazil 986 Brasilian real BRL 1 NaN 10.1179 NaN
China 156 Chinese yuan renminbi CNY 1 NaN 7.6949 NaN
Hong Kong 344 Hong kong dollar HKD 1 NaN 6.7899 NaN
Indonesia 360 Indonesian rupiah IDR 1 NaN 0.0031 NaN
Israel 376 Israeli shekel ILS 1 NaN 17.2781 NaN
India 356 Indian rupee INR 1 NaN 0.5794 NaN
South Korea 410 South Korean won KRW 1 NaN 0.0360 NaN
Mexico 484 Mexican peso MXN 1 NaN 3.0114 NaN
Malaysia 458 Malaysian ringgit MYR 1 NaN 13.4676 NaN
New Zealand 554 New Zealand dollar NZD 1 NaN 31.4401 NaN
Philppines 608 Philippine peso PHP 1 NaN 0.9058 NaN
Singapore 702 Singapore dollar SGD 1 NaN 41.5763 NaN
Thailand 764 Thai baht THB 1 NaN 1.6770 NaN
South Africa 710 South African rand ZAR 1 NaN 3.2178 NaN
Serbia 941 Serbian dinar RSD 1 NaN 0.5254 NaN

NATIONAL BANK POLICY RATES

Monetary instrument
 Interest rate
Central Bank bills

4,00%

Overnight loan
4,50%
Overnight deposit
 3,50%
The official language of the documents translated herein is Macedonian. In case of any doubt or misunderstanding, the Macedonian version should therefore be considered final.
National Bank of the Republic of Macedonia published this content on March 04, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on March 06, 2026 at 08:51 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]