Milan Marković, Ivana Marjanović

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The aim of the paper is to identify the episodes of currency crises in the Republic of Serbia using the exchange market pressure (EMP) index. The country's resilience to currency crises prevents the collapse of the currency and the transfer of negative effects to the entire financial and real sector, so the research and assessment of the factors of currency crises is extremely important. The survey shows that the strongest strikes on the Serbian dinar were in the period of the global financial crisis in 2008, so that adjusting to shocks from abroad is crucial for the sustainability of the applied managed floating exchange rate regime. On the other hand, the stability of the national currency depends mainly on the achieved macroeconomic results, which are presented globally using the misery index.


currency crisis, floating exchange rate, foreign exchange reserves, exchange market pressure (EMP) index, misery index.

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