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Serbia's central bank buys euros to stem dinar gains - dealers
September 14, 2017 / 9:55 AM / a month ago

Serbia's central bank buys euros to stem dinar gains - dealers

BELGRADE, Sept 14 (Reuters) - The Serbian central bank intervened on the interbank market on Thursday, buying an unspecified quantity of euros to stem gains of the dinar which remained strong despite a 30 million euros ($35.68 million) purchase a day earlier, dealers said.

The bank which so far in 2017 purchased 990 million euros, stepped in as the dinar traded at around 118.88 to the euro, slightly stronger than the previous close of 118.9.

After the intervention the exchange rate was 119.08 at 0948 GMT, Reuters data showed. Last week the central bank cut its benchmark interest rate by 25 basis points to 3.75 percent to boost lending and spur growth.

$1 = 0.8408 euros Reporting by Aleksandar Vasovic; Editing by Ivana Sekularac

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