ZAGREB: Croatia's central bank said on Wednesday it had bought 278 million euros ($296 million) from commercial banks in an auction at an average rate of 7.5490 kuna per euro.
The kuna was quoted at 7.54/7.55 at 1335 GMT, easing from around 7.51 where it stood before the intervention.
"It is true that the kuna is somewhat stronger these days than usually at this period of the year when normally it reaches the lowest levels against the euro. So I see this as a central bank signal that it wouldn't like it to firm any further," a dealer at a major local bank said.
In its previous auction to buy euros, held in early September, the central bank bought 69 million euros. The bank keeps the kuna in a managed float regime, allowing minor rate movements.
This year the kuna has gained 1.54 percent against the euro.
Most market participants have said they see the kuna as exposed to moderate depreciation pressures in the coming weeks.
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