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Nov 29, 2017 12:26 EEST
November 29 (SeeNews) - Serbia's central bank said it has sold 30 million euro ($35.6 million) to commercial banks on Tuesday to bolster the national currency, the dinar.
The official exchange rate for Wednesday has been set at 119.6904 dinars per euro, the central bank said in a statement after the intervention that aimed to alleviate the excessive volatility of the dinar.
This is the second time this week that the NBS has intervened to support the dinar. The previous intervention was on Monday when the central bank sold 45 million euro to banks.
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 = 119.352 dinars)
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