Serbian Central Bank Sells 20 Million Euros to Boost Dinar

The Serbian central bank sold euros to support the dinar, preventing its slide through 112 to the euro.

The Belgrade-based Narodna Banka Srbije said it sold 20 million euros ($26.3 million) to “enable the smooth functioning” of the market. The National Bank of Serbia has sold 588.5 million euros since the start of 2012 to prop up the dinar.

It left its benchmark interest rate unchanged at 9.5 percent on April 12 and amended reserve-requirement rules, releasing foreign-currency liquidity and draining dinars to stabilize the Serbian currency and avoid inflationary pressures.

To contact the reporter on this story: Gordana Filipovic in Belgrade at gfilipovic@bloomberg.net

To contact the editor responsible for this story: Alan Crosby at acrosby1@bloomberg.net

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