HNB and CBCG Sign Agreement on Cooperation in the Euro Cash Exchange Area

29/05/2025

The Governor of the Croatian National Bank (HNB), Boris Vujčić, and the Governor of the Central Bank of Montenegro (CBCG), Irena Radović, signed the Agreement on Cooperation in the euro cash exchange area in Dubrovnik today.

The agreement establishes a framework for operational cooperation between the two institutions concerning the euro cash exchange, including fit and unfit euro banknotes and coins. The exchange will operate under a “cash for cash” system, meaning there will be no payments to accounts, with clearly defined technical, security, and logistical conditions in place.

“The signing of today’s agreement enhances the operational connection between our institutions and ensures high standards in cash handling. I believe that its implementation will contribute to the stability and transparency of cash operations in the region,” the HNB Governor said on that occasion.

Governor Radović said that signing the agreement with HNB reflects the HNB’s reliability and commitment as a partner to the CBCG. Moreover, the cooperation with Governor Vujčić and his team is a testament to true European solidarity, particularly in the context of the CBCG’s European convergence efforts.

“The geographical and overall proximity of our countries, coupled with full compliance with the European central banks’ standards, ensures more efficient cash transport, cost optimisation and reliable management of cash flows in euros. We are convinced that this agreement will enhance the stability, transparency and predictability of cash transactions in Montenegro and its progress towards integration into the EU and the ESCB,” said Governor Radović.