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Business & Finance

Serbia's central bank buys euros to stem dinar gains

Published March 2, 2018 Updated March 2, 2018 02:08pm
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By Fawad MaqsoodPPI
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BELGRADE: The Serbian central bank bought on Friday an unspecified amount of euros on the local interbank market to stem gains in the dinar, dealers said.

The bank, which a day earlier bought 90 million euros ($110.59 million), stepped in as the dinar traded at 117.71 to the euro, marginally stronger than the day before. After the intervention, the dinar weakened to 118.03, Reuters data showed.

The bank has so far this year bought a total of 270 million euros to tame the dinar exchange rate.

Copyright Reuters, 2018
 

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