Bloomberg News

Serbian Central Bank Said to Sell Euros to Support Dinar

March 29, 2012

Serbia’s central bank sold euros today to slow declines in the dinar, supporting the national currency for the third consecutive day.

The Belgrade-based Narodna Banka Srbije sold 20 million euros ($26.52 million) to “enable the smooth functioning of the foreign-exchange market,” it said in a statement posted on its website. The bank has sold 435.5 million euros since the start of 2012 to prop up the dinar.

The bank stepped in after the dinar dropped to as low as 111.7270 to the euro, according to data compiled by Bloomberg. The currency closed the session in Belgrade at 111.3218 to the euro.

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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