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Dec 21, 2007 12:13 EEST
December 21 (SeeNews) - The Croatian central bank called on Friday its fourth currency auction this year to buy euro in a move to tame recent gains of the national currency, dealers said.
The kuna traded at at 7.31 towards the euro after the intervention, a foreign exchange dealer from a local bank told SeeNews.
The kuna has been gaining since mid-November when it traded at 7.33 - 7.35 to the euro. It opened at 7.29 to the euro on Friday.
"I was surprised by the intervention as despite the rise in the last two or three weeks, the kuna has eased in the last couple of days," he said. "I suppose that a big bank that needs to sell euro has made an agreement with the central bank for it," the dealer added.
The central bank will announce the results of the auction later on Friday.
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