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Serbia's c-bank buys 60 mln euro to limit dinar gains

Author Radomir Ralev
Serbia's c-bank buys 60 mln euro to limit dinar gains Author: SeeNews. License: All rights reserved.

BELGRADE (Serbia), May 17 (SeeNews) - Serbia's central bank said it purchased 60 million euro ($70.7 million) from commercial banks on Wednesday to stem gains of the local dinar currency.

The official exchange rate for Thursday was set at 118.1503 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 = 118.027 dinars)

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