Currency loses more ground despite intervention
The Serbia dinar (RSD) declined in value by 0.2 percent against the euro (EUR) on Friday.Source: Tanjug
This came despite an intervention by the National Bank of Serbia (NBS), which sold EUR 30 million on the interbank foreign exchange market on Thursday.
The official medium exchange rate at the end of the week stands at RSD 118.4256, the NBS said. The dinar thus hit a record low against the euro since the beginning of the year.
The Serbian national currency has declined by 1.2 percent against the euro compared to last month, and by 3.4 percent compared to the same period last year.
The dinar also dropped by 1.2 percent against U.S. dollar, with the exchange rate currently at RSD 91.0056, and has declined against the dollar by 4.4 percent at monthly level and by 4.6 percent at annual level.
This year, the medium exchange rate was at its highest on January 1, when one euro was exchanged for RSD 114.6421.
Since the beginning of the year, the NBS has bought a total of EUR 200 million and sold EUR 955 million on the interbank foreign exchange market in order to prevent excessive daily fluctuations of the exchange rate.