December 5 (SeeNews) - Serbia's central bank said it has sold 15 million euro ($17.8 million) to commercial banks on Monday to strengthen the national currency, the dinar.
The official exchange rate for Tuesday was set at 119.4292 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 intervened to support the dinar twice last week. On November 27 the central bank sold 45 million euro to banks and on November 28 it sold 30 million euro.
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 FX reserves.
(1 euro = 119.302 dinars)