Serbian dinar drops to lowest level against euro this year

The Serbian dinar (RSD) continued its fall against the euro (EUR) as it dropped by 0.5 percent, or RSD 0.58, on Tuesday.

Source: Tanjug

This happened despite the central bank's EUR 30 million intervention in the interbank foreign exchange market on Monday.

The official middle exchange rate is now set at RSD 113.0848 per one euro, the Serbian currency's lowest against the eurozone's common currency in 2013, the National Bank of Serbia (NBS) has said in a release.

The NBS sold EUR 30 million at the interbank foreign exchange market to ease the extreme daily volatility of the national currency on Monday.

This year, the NBS bought a total of EUR 90 million and sold 65 million at the interbank foreign exchange market to address the exchange rate fluctuation.

On Tuesday, the dinar is 2.2 percent weaker than the euro against a month ago. Year-on-year, it rose against the hard currency by 4.1 percent.

The domestic currency was the strongest on April 30, when the euro stood at RSD 110.5426.

The indicative dinar-versus-dollar exchange rate fell by 0.9 percent to RSD 87.2231.

Month-on-month, the dinar fell against the U.S. dollar by 3.2 percent, while strengthening against it by 8.4 percent compared to a year earlier.

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