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Serbia's C-bank Injects 50 Mln Euro to Prop Up Falling Dinar

Nov 26, 2008, 7:06:18 PMArticle by Vera Ovanin
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BELGRADE (Serbia), November 26 (SeeNews) – Serbia’s central bank NBS said on Wednesday it sold 50 million euro ($64 million) in the third effort this week to prop up the falling local currency.

Serbia's C-bank Injects 50 Mln Euro to Prop Up Falling  Dinar

Before the intervention the dinar traded at 89.3335 per euro and after the intervention it firmed to 88.30 per euro where it closed, NBS said in a statement.

On Monday and Tuesday the central bank sold a total of 90 million euro to back the dinar after the currency weakened to 89.30 per euro. Last week, NBS injected 120 million euro in the market to slow the fall in the dinar.

($=0.7772 euro)

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