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Home/News/Serbia’s central bank buys euros to stem dinar gains – dealers

Serbia’s central bank buys euros to stem dinar gains – dealers

The Serbian central bank bought euros on the local interbank market on Tuesday to stem gains in the dinar, dealers said.

The local currency was being bolstered by seasonal remittances from Serbians working abroad.

The bank, which maintains the dinar in a managed float against the euro, stepped in as the dinar traded at the rate of 118.15.

After the intervention, it weakened to 118.35, Reuters data showed.

Source: Reuters