Large turnover at the fx market in the Republic of Macedonia, reduced unemployment rate in the USA, over- indebted Italy – new problem in the EU

Author: Borce Stamenkovski

Foreign exchange market remains on its high level. In the total traffic, Euro currency participate with almost 81 %, the American dollar with 13 %, while the rest currencies are in total around  6 % from the entire foreign exchange market.

On average in October there were traded 35, 9 million EUR on a daily basis. Exchange offices and the real sector offers reach its highest level; the demand was reduced, while the large companies as result of the season motives have reduced their purchasing. The situation in the segment of the commercial banks was following: NLB Banka, Komercijalna Banka, Sparkasse Banka, Ohridska Banka were at the offer side (eur/ dol.), while Prokredit Banka and Halk Banka were among the buyers with reduced amounts. Trade currency among banks was in tight range, around 61, 47 – 61, 48. At the end of the month there were notable increased activities among the commercial banks. That was done with aim to “press” the open foreign currency position, which in returns influenced the rate of the capital adequacy.

Continue reading “Large turnover at the fx market in the Republic of Macedonia, reduced unemployment rate in the USA, over- indebted Italy – new problem in the EU”

Foreign exchange market and short overview of the most traded currencies

Author: Vesna Trajkovska

Foreign exchange market in the RM represents a significant segment of the entire financial market and national economy and it is marked with the gradually growth. It is characterized with stable denar rate and enhanced income which in addition appeared as a result of the improved business climate, new capacities that are export oriented and foreign investments in the country. NBRM as a supporter of the commercial banks on a daily level is publishing data for the entire foreign exchange traffic that are obtained. For example the traffic in the first half of September 2018 (353 million euro’s) is approximately the similar as the total traffic in the previous two months in total (380 million euro’s). Such situation outcome as the result of the increased foreign trade exchange which in addition pull out larger amount of the currently present amount of foreign currencies, increased traffic of the foreign exchange market and commercial banks with NRBM.

Continue reading “Foreign exchange market and short overview of the most traded currencies”

Coffee with ACI friends

Dear Colleagues, ACI Friends,

ACI Macedonia – Association of Financial Markets is honored to invite you on coffee meeting in the coffee shop ‘’VINIL’’. Coffee shop is situated on the boulevard, ‘’Partizanski Odredi’’ No.14 oppose with the church ‘’Soborna Crkva’’ in Thursday 08.11.2018 with the beginning in 17.00 o clock.

You are welcome to spent time together and exchange experiences, thoughts over actual professional topics.

It will be our pleasure to see you there.

Perpetual bond

Author: Elena Kuzmanovska

On 20th September, 2018 Securities and Exchange Commission in Macedonia Banking Association presented new instrument in the capital market – perpetual bonds.

Тhe Commission recognized perpetual bonds as securities during June, 2018. Perpetual bonds do not have maturity date, therefore they are perpetual i.e “eternal”. These financial instruments can be included in Additional Tier I capital according to Decision on amending the Decision on the methodology for determining the capital adequacy (Official Gazette of the Republic of Macedonia No. 218/16).

In financial world, when talking about perpetual bonds, we consider financial instrument between bond and equity. On one hand, perpetual bonds do not have maturity date (perpetual) i.e they have no maturing principal that should be paid on some fixed date in the future, characteristic in which they resemble to equity. On the other hand, holder of the bond receives the income in form of coupons, in regular monthly instalments in fixed amount and do not have voting rights, characteristics in which they resemble to bonds.

Continue reading “Perpetual bond”