This is a fundamental issue. In a country with a big trade or payments deficit, the demand for foreign exchange will exert pressure on the exchange rate of the local currency. Still, their currencies collapsed and were devalued by tens of percents, many times violently and in the space of a few horrible days. The trade deficit is covered by unilateral transfers from international financial institutions and donors. Moreover, the bleeding of foreign exchange goes towards an increase in consumption.
Foreign exchange spent on cars and on caviar is foreign exchange lost.
The high interest rates in Macedonia and the infusions of capital from abroad keep the currency overvalued. Its appreciation is the result of conjectures not of fundamentals. Today's reserves are sufficient to cover 2-3 months of imports. This is ample - but this is also temporary. The danger is imminent and the results could be catastrophic.