Serbian Central Bank Must Support Dinar, Cvetkovic Tells Novosti

Serbia’s central bank must “intervene” to support the dinar and explain what is happening with the currency after it fell to a record low against the euro, Novosti quoted Prime Minister Mirko Cvetkovic as saying.

Cvetkovic said in an interview with the newspaper that there was no excessive demand in the market to make the dinar “fall several percent a day” and that the best “remedy” for situations like this is “timely and sufficient intervention,” according to Novosti.

The dinar fell to an all-time low of 109.7532 against the euro yesterday, prompting the National Bank of Serbia to sell 68.5 million euros to support the local currency.

To contact the reporter on this story: Gordana Filipovic in Belgrade at

To contact the editor responsible for this story: James M. Gomez at

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.