November 28, 2017 / 9:38 AM / in a year

Serbian central bank sells euros to stem dinar losses - dealers

BELGRADE, Nov 28 (Reuters) - The Serbian central bank sold euros on the local interbank market on Tuesday to stem losses of the dinar, dealers said.

The bank stepped in as the dinar traded at 119.88 to the euro or 0.47 percent weaker than the previous close. After the intervention the dinar recovered to a rate of 119.62 to the euro. A day earlier the bank also sold 45 million euros.

Dealers say that the weakening of the dinar could be linked with the demand for the euro after government on Nov. 16 announced the issue of its first dinar and euro-denominated savings bonds to bolster the Serbia’s domestic debt market. (Reporting by Aleksandar Vasovic; Editing by Jeremy Gaunt)

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