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Croatia central bank sells 240 mln euros to prop up kuna
January 31, 2014 / 10:52 AM / 4 years ago

Croatia central bank sells 240 mln euros to prop up kuna

ZAGREB, Jan 31 (Reuters) - Croatia’s central bank sold 240.2 million euros ($326 million) to commercial banks on Friday in its first foray on to the local foreign exchange market this year to counter pressure on the kuna currency.

The average rate at the auction amounted to 7.6448 kuna per euro, the central bank said. The kuna firmed slightly to 7.64/7.65 against the euro from 7.66/67 before the transaction.

Last year the central bank intervened only once to ease depreciation pressure on the kuna, which it keeps in a managed float regime allowing just mild fluctuations.

$1 = 0.7373 euros Reporting by Igor Ilic; Editing by John Stonestreet

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