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Kosovo Central Bank Mandates Euro as Exclusive Currency

The Central Bank of Kosovo has decreed, following a meeting on 27th December, that the euro will be the sole currency for cash transactions and payment systems within its jurisdiction

This regulation, effective from February 1st, renders the Serbian dinar non-operational in Kosovo.

As per the new regulation, other currencies besides the euro are relegated to being held as physical assets or for international, non-euro transactions and foreign exchange operations. These provisions were detailed in a statement on the Central Bank of Kosovo’s Facebook page.

The regulation strictly permits currency exchange only through entities licensed by the Central Bank of Kosovo. Furthermore, the import and export of banknotes and coins, in euros or other currencies, are exclusively rights of the Central Bank. Such transactions can only be executed by banking and financial institutions authorized by the Central Bank.

With the enforcement of this new regulation on February 1st, all previous provisions conflicting with this mandate will be annulled.

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