UPDATE 2 – Serbia’s C-Bank Sells 30 Mln Euro to Prop Up Falling Dinar

Before the intervention the dinar traded at 88.7620 per euro and after the intervention it firmed to 88.5089 per euro where it closed, NBS said in a statement.

The dinar lost ground to 89.15 per euro after closing at 88.30 per euro on Friday, a local dealer told SeeNews around 1040 GMT, adding that he expected the bank to step in.

“Just now, the market is a mess, the dinar went over 89.00 per euro,” another dealer told SeeNews at 1037 GMT. He said later, at 1135 GMT, the dinar firmed to 88.70-88.80 per euro.

A third dealer told SeeNews earlier in the day that the strong demand witnessed over the past few days continued on Monday.

“It [the dinar] went over 89.00 but no deals were concluded at that level,” he said around 1115 GMT.

He said the dinar closed at 87.80-88.30 per euro on Friday.

“Nothing particular is happening, really. The dinar just weakened in the morning, then lost some more ground and here it is now at 88.90-89.30 [1115 GMT],” the third dealer said.

Last week, the central bank, NBS, injected 120 million euro ($151 million) in the market to prop up the local currency, which touched a historic low of 89.00 dinars per euro.

($=0.7771 euro)