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Home/News/Serbia’s c-bank buys 35 million euros to stem dinar gains

Serbia’s c-bank buys 35 million euros to stem dinar gains

Serbia’s central bank said it bought 35 million euro ($43.2 million) from commercial banks on Friday to stem gains of the local dinar currency.

The official exchange rate for Monday was set at 118.2354 dinars per euro, the central bank said in a statement after the intervention that aimed to alleviate the excessive volatility of the dinar exchange rate.

NBS is implementing a managed float exchange rate regime based on supply and demand to preserve price and financial stability and to maintain an adequate level of foreign exchange reserves.

Source; SeeNews