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Serbia's c-bank buys 45 mln euro to stem dinar gains

Author Radomir Ralev
Serbia's c-bank buys 45 mln euro to stem dinar gains Author: SeeNews. License: All rights reserved.

BELGRADE (Serbia), July 11 (SeeNews) - Serbia's central bank said it bought 45 million euro ($50.7 million) from commercial banks on Wednesday to stem gains of the local dinar currency.

The official exchange rate for Thursday was set at 117.7672 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 = 117.723 dinars)

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