Bloomberg the Company

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

Follow Us

Industry Products

Serb Central Bank Buys 10 Million Euros to Temper Dinar Gains

Don't Miss Out —
Follow us on:

May 7 (Bloomberg) -- Serbia’s central bank today bought euros for the sixth time this year to slow gains in the dinar as the currency traded at its strongest levels in 13 months.

The Belgrade-based Narodna Banka Srbije purchased 10 million euros ($13.1 million) from commercial banks to “ease the excessive daily volatility” of the currency, it said on its website. The bank bought 50 million euros on April 29.

Three currency traders in Belgrade, who asked to remain unidentified in line with the policies of their banks, said the central bank was buying euros at levels of about 110.40 and 110.60 dinars to the euro, after the Serbian currency gained 0.3 percent on the day.

The dinar traded at 110.66 at 6:01 p.m. in Belgrade. It has gained 2.45 percent against the euro in the past six months.

With today’s intervention, the National Bank of Serbia purchased a total of 90 million euros to slow the gains in the dinar. The currency’s strengthening was triggered by the European Commission’s decision to recommend that European Union member states begin membership talks with Serbia.

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.