Author: SeeNews. License: All rights reserved.
BELGRADE (Serbia), March 2 (SeeNews) - Serbia's central bank said it has bought 90 million euro ($110.4 million) from commercial banks on Thursday to stem gains of the local dinar currency.
The official exchange rate for Friday was set at 118.0084 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.
Total trading in euros between domestic banks, excluding transactions between banks and the NBS, amounted to 73.9 million euro, twice as much as the average daily interbank trading on the foreign exchange market in 2018.
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 = 117.913 dinars)