Central bank sells EUR 60mn, Serbian currency up 0.5 pct

The steady slump of the Serbian dinar (RSD) will be halted on Monday, when its value against the euro (EUR) will go up by 0.5 percent, the NBS has said.

Izvor: Tanjug

Monday, 17.11.2014.

10:05

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Central bank sells EUR 60mn, Serbian currency up 0.5 pct

The National Bank of Serbia (NBS) sold EUR 60 million on Friday to stabilize the national currency.

This will make the dinar 0.4 percent weaker against the euro than a month ago and five percent weaker than one year ago.

The indicative exchange rate against theU.S. dollar (USD) dropped by 0.4 percent, to RSD 96.6071 for USD 1. This makes the dinar 3.4 percent weaker against the dollar than one month ago and 12.3 percent weaker on the annual level.

The hit its lowest on Friday, when EUR 1 cost RSD 120.5412.

The central bank has bought a total of EUR 200 million and sold EUR 1.325 billion on the interbank foreign exchange market since the start of the year to prevent the national currency's excessive daily volatility.

This week only, the NBS sold EUR 140 million.

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