There is internal convertibility of the Macedonian national currency. Participants at the domestic foreign exchange market are enterprises, commercial banks and the Central Bank. Enterprises can freely buy foreign exchange if the payments for imports of goods and services and other current account transactions are due in two working days. Enterprises may sell realized foreign exchange receipts at the foreign exchange market, make payments abroad, or deposit them with the commercial banks for a limited period of up to 90 days. After that period they must sell the foreign exchange at the foreign exchange market.
Exchange rate is a subject of agreement between buyers and sellers.
Enterprises may maintain accounts with foreign banks only in specific cases and with an approval of the Central Bank. Natural persons may buy and sell foreign convertible currencies in foreign exchange bureaus and in commercial banks. They may open foreign exchange accounts and make payments for their imports of goods and services. Nonresidents may open freely disposable foreign exchange and Denar accounts. They can freely transfer abroad foreign exchange and Denar funds based on profit, repatriation of the capital invested in domestic enterprises, selling of the enterprise, salaries and other revenues of the nonresidents employed in domestic enterprises.