Krgovic: In first part, 50 - 70 million DEM would be replaced with Euro
- Krgovic: In first part, 50 - 70 million DEM would be replaced with Euro
- Post By daniloc
- 12:22, 18 avgust, 2001

The first contingent of money that would be replaced with Euro, worth 50 - 70 million DEM, would be directed in September and its return is expected in December, announced the Central Bank of Montenegro.
President of the Council of the Central Bank, Ljubisa Krgovic said that the money would be substituted by Bundesbanka or Commerical Bank of Germany.
He said that budget of 500,000 to 1 million DEM was allotted for public campaign on introduction of Euro, including the transport.
"The most expensive part of the campaign would be transport and replacement of coins," said Krgovic for Montena-business.
He said that the highest amount of German currency which would be replaced without banking account in the General Clearing House would be limited on 5 - 10,000 DEM.
"Citizens would not pay commission rate for conversion of banknotes provided by the Central Bank, while other banks would independently state their commission rates for substitution of DEM with Euro," said Krgovic.
He said that dual currency system in Montenegro would last until February 2002, but it is possible that the date would be postponed till April, in case it were necessary.
Krgovic announced that the public campaign of introduction of Euro would cover all Montenegrin media.
"Texts in newspapers would be published, special TV broadcasts would be made, and we would also publish brochures, informative leaflets, instructions. Advertising through billboards and posters is planned, and on the web page of the Central Bank, all information on introduction of Euro would be available," says president of the Council of the Central Bank.