Bloomberg News

Serbian Dinar Gains 0.7% Ahead of EU Report on Membership Bid

October 12, 2011

Oct. 12 (Bloomberg) -- The Serbian dinar gained 0.7 percent as markets anticipated the country will receive positive news about its bid to become a candidate for European Union membership.

The dinar traded at 100.50 against the euro as of 11:39 a.m. in the capital Belgrade, according to Bloomberg data, up from the central bank’s official mid-rate of 101.2273 yesterday.

The market is “essentially expecting good news from Brussels” on top of “some corporate demand for dinars,” said Ljiljana Grubic, an analyst with Belgrade-based Raiffeisen Bank AD.

The EU will release its 2011 enlargement report later today with new opinions on the progress made by Western Balkan countries toward membership in the world’s largest trading bloc.

--Editors: Douglas Lytle, James M. Gomez

To contact the reporter on this story: Gordana Filipovic in Belgrade at gfilipovic@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net


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