Serbian C-bank Steps in To Lift Dinar from Historic Low vs Euro - Dealers

“The bank stepped in three times after the dinar/euro rate reached 90.00-90.50. The dinar firmed to 89.15-89.65 after the intervention and remained at that level [1400 GMT],” a local dealer told SeeNews, quoting Thursday's close of 89.30-89.80. He added that trading had been very weak during the day.

After selling a total of 140 million euro ($180 million) in the first three days of the week to back the falling dinar, NBS skipped intervention on Thursday.

The bank will issue later in the day a statement to say how much euro it sold on Friday. Another local dealer told SeeNews the intervention was not very big.

“It has been quiet during the whole day today as the exchange rate kept a level of 89.30 dinars towards the euro. It dropped to 90.00 at one point but then the central bank stepped in and the rate returned to 89.30, where it is now,” the second dealer told SeeNews around 1400 GMT.

Last week, NBS injected 120 million euro in the market to slow the fall in the Serbian currency.

($=0.7841 euro)