Serbian Dinar Loses Ground, Market Hopes C-bank Will Step in

“The dinar went on depreciating today, reaching a level of 85.50 per euro around half an hour ago,” a local dealer told SeeNews at 1520 local time [1420 GMT] “It’s been like losing two to three percent every day now.”
 
The dealer quoted a dinar/euro exchange rate of 87.50-88.00 by 1420 GMT versus Thursday close of 87.00. He added liquidity has been very low and spreads wide as the market expected the centra bank, NBS, to sell euro at its second fixing meeting for the day. The fixing meetings are formal half-an-hour trading sessions NBS hols with commercial banks.

“We had one fixing meeting today but estimated that we do not have to intervene,” a NBS official told SeeNews. “A new one will be organized very soon.”

The market will close at 5 p.m. local time (1600 GMT).