Serbian Central Bank Sells 30 Million Euros to Support Dinar
The Serbian central bank sold euros to support the dinar, acting for the second consecutive day to slow the national currency’s weakening.
The Belgrade-based Narodna Banka Srbije sold 30 million euros ($39.86 million) to “enable smooth functioning of the foreign-exchange market,” it said in a statement posted on its website. It has sold 415.5 million euros since the start of 2012 to prop up the dinar.
Earlier in the day, three currency traders, who asked for anonymity in line with their bank policies, said the central bank started selling euros when the dinar fell to 111.50 to the euro, with client demand for foreign currencies keeping it under pressure.
To contact the reporter on this story: Gordana Filipovic in Belgrade at firstname.lastname@example.org
To contact the editor responsible for this story: Alan Crosby at email@example.com