Serbia's central bank sells euros to support dinar

BELGRADE: The Serbian central bank sold euros on the local interbank market on Thursday to support the dinar, which remained weak a day after the institution sold 15 million euros to bolster the domestic currency, dealers said.

The central bank, which keeps the dinar in a managed float versus the euro, began selling as the dinar traded at a rate of around 123.15, roughly the same as a day earlier.

Dealers said the pressure on the dinar stems from a sale of 119.9 million euros in 10-year treasury bonds on Wednesday.

The central bank so far this year has sold 750 million euros and purchased 20 million euros in support of the dinar.