Bloomberg News

Serb Central Bank Sells Euros to Ensure ‘Smooth Functioning’

April 27, 2012

The Serbian central bank sold euros to banks for a fifth consecutive day to ease pressure on the dinar ahead of May 6 general elections.

The Belgrade-based Narodna Banka Srbije sold 20 million euros ($27 million) today to “ensure smooth functioning” of the market, it said in a statement on its website.

The central bank has spent a total 698.5 million euros since the start of 2012 to prop up the dinar, which has fallen 10 percent against the euro compared with the same period last year, according to data compiled by Bloomberg.

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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