Serbian currency recovers against euro

The Serbian dinar (RSD) strengthened against the euro (EUR) by 25 paras on Monday. The official middle exchange rate today is RSD 97.9763 for one euro, the National Bank of Serbia (NBS) said. Serbian currency recovers against euro The central bank purchased a total of EUR 40mn at the interbank foreign exchange market from May 19-June 7, so as to ease the excessive daily volatility of the exchange rate. As NBS Vice-Governor Bojan Markovic has stated before the intervention, the central bank wanted to make up for a smaller portion of about EUR 2.3 billion that it had sold on the foreign exchange market in 2010 in order to prevent excessive drop of the dinar and ensure market liquidity. In 2011, the Serbian currency hit its lowest level against the euro on January 6, when the official middle exchange rate was RSD 106.4947, and its highest on May 23, with the exchange rate at RSD 96.7007.

Serbian currency recovers against euro

The central bank purchased a total of EUR 40mn at the interbank foreign exchange market from May 19-June 7, so as to ease the excessive daily volatility of the exchange rate.

As NBS Vice-Governor Bojan Marković has stated before the intervention, the central bank wanted to make up for a smaller portion of about EUR 2.3 billion that it had sold on the foreign exchange market in 2010 in order to prevent excessive drop of the dinar and ensure market liquidity.

In 2011, the Serbian currency hit its lowest level against the euro on January 6, when the official middle exchange rate was RSD 106.4947, and its highest on May 23, with the exchange rate at RSD 96.7007.