By NMedjedov (Own work), via Wikimedia Commons
BELGRADE (Serbia), April 24 (SeeNews) - Serbia's central bank said it bought 20 million euro ($24.4 million) from commercial banks on Monday to stem gains of the local dinar currency.
The official exchange rate for Tuesday was set at 118.1870 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.
(1 euro = 118.121 dinars)