Bloomberg News

Serbian Central Bank Sells 20 Million Euros to Support Dinar

March 27, 2012

Serbia’s central bank sold euros today, adding liquidity in to market trading as dinar dropped to as low as 111.5630 to the euro.

The Belgrade-based Narodna Banka Srbije said it sold 20 million euros ($26.69 million), a day after announcing plans to amend reserve requirement rules to release additional foreign- currency liquidity to create demand for the weakening dinar. The National Bank of Serbia has sold 385.5 million euros since the start of 2012 to prop up the dinar.

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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