Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Serbian Central Bank Sells Euros to Support Dinar

March 22 (Bloomberg) -- Serbia’s central bank sold 40 million euros ($53 million), adding liquidity to the market and keeping the dinar from weakening further.

The Belgrade-based Narodna Banka Srbije said it was acting against dinar volatility even though the currency fell less than 0.1 percent on the day, according to data compiled by Bloomberg. The National Bank of Serbia has spent 365.5 million euros since the start of 2012 to prop up the dinar.

Serbia holds parliamentary elections on May 6 and President Boris Tadic said on March 2 after a meeting with the central bank governor and the prime minister that they assured him the dinar would stabilize.

The National Bank of Serbia pursues inflation targeting as its monetary policy framework, relying on interest rates as key policy instrument along with a floating exchange rate.

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

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.