January 23 (SeeNews) - Serbia's central bank said it sold 10 million euro ($11.4 million) to commercial banks on Tuesday to bolster the local dinar currency.
The official exchange rate for Wednesday was set at 118.4219 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 = 118.437 dinars)