BELGRADE, March 3 Serbia's central bank sold 50
million euros ($68.87 million) on the domestic currency market
on Monday to support the dinar, which began to weaken against
the euro on bank demand for the European single currency.
The central bank offered euros for sale on several occasions
as the dinar hit 116.2 to the euro, said a dealer
with a Belgrade-based commercial bank.
"Serbian subsidiaries of several foreign banks were
purchasing euros," the dealer said.
In a statement on its website, the central bank said only
that it had sold 50 million euros, but offered no details about
what had motivated it to intervene.
The dinar subsequently stabilised at around 115.9 to the
euro, a preferred foreign currency in the Balkan country.
The central bank, which maintains a managed float of the
dinar, has sold a total of 640 million euros this year in
support of the domestic currency.
($1 = 0.7240 euros)
($1 = 0.7260 euros)
(Reporting by Aleksandar Vasovic; Editing by Matt Robinson)