Another low for Serbian currency this year

BELGRADE -- The Serbian dinar (RSD) dropped 0.1 percent against the euro (EUR) on Tuesday, setting the official middle exchange rate at RSD 117.9514 for one euro.

The national currency is at its lowest since the beginning of the year. The value of dinar is down by 1.1 percent against the common European currency compared to the previous month, and three percent down year-on-year.

The indicative dinar-versus-dollar exchange rate remains unchanged at 89.7856. The national currency is down against the US dollar by 2.8 percent relative to the previous month and 3.5 down relative to last year.

The highest value of the dinar was recorded on January 1 this year when the middle exchange rate stood at RSD 114.6421 for EUR 1.

Since the beginning of the year, the NBS has bought a total of EUR 200 million and sold EUR 920 million in the interbank foreign exchange market to prevent excessive daily fluctuations of the dinar exchange rate.