You have 10 free articles left this month. Get your freeBasic subscription now and gain instant access to more.

Serbia's c-bank buys 25 mln euro to curb dinar gains

Author Radomir Ralev
Serbia's c-bank buys 25 mln euro to curb dinar gains Author: SeeNews. License: All rights reserved.

BELGRADE (Serbia), July 10 (SeeNews) - Serbia's central bank said it bought 25 million euro ($28 million) from commercial banks on Tuesday to stem gains of the local dinar currency.

The official exchange rate for Wednesday was set at 117.7713 dinars per euro, the central bank said in a statement after the intervention that aimed to alleviate the excessive volatility of the dinar exchange rate.

NBS is implementing a managed float exchange rate regime based on supply and demand to preserve price and financial stability and to maintain an adequate level of foreign exchange reserves.

(1 euro = 117.693 dinars)

Compare