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Serbia's c-bank buys 30 mln euro to stem dinar gains

Author Radomir Ralev
Serbia's c-bank buys 30 mln euro to stem dinar gains Author: SeeNews. License: All rights reserved.

BELGRADE (Serbia), March 22 (SeeNews) - Serbia's central bank said it bought 30 million euro ($34.1 million) from commercial banks on Thursday to stem gains of the local dinar currency.

The official exchange rate for Friday was set at 117.9464 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 = 117.946 dinars)

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