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Croatia's c-bank buys 345.5 mln euro to stem kuna gains

Dec 13, 2017, 2:57:15 PMArticle by Maja Garaca
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December 13 (SeeNews) - Croatia's central bank, HNB, said it bought 345.5 million euro ($405.6 million) from commercial banks on Wednesday to prevent excessive appreciation of the kuna currency.

Croatia's c-bank buys 345.5 mln euro to stem kuna gains
Boris15/Shutterstock.com

The central bank intervened on the foreign exchange market by buying euro at an average rate of 7.560478 kuna per euro, HNB said in a statement.

In August, HNB bought 126 million euro from banks, while in July it purchased of 101.5 million euro. In June it bought a total of 374 million euro in two interventions.

Following Wednesday's intervention, HNB has bought a total of 947 million euro so far this year.

($=0.8518 euro)

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