July 26, 2019 / 1:32 PM / 23 days ago

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

BELGRADE, July 26 (Reuters) - Serbia’s central bank purchased an unspecified quantity of euros on local interbank market on Friday, the first such intervention since July 18, aiming to stem gains of the dinar against the common currency, dealers said.

The bank started its intervention as the dinar traded at the rate of 117.71 to the euro. After the euro purchase, the domestic currency weakened to the rate of 117.8.

The Serbian central bank, which keeps the dinar in a managed float versus euro, so far this year purchased a total of 1.67 billion euros ($1.86 billion) and bought 130 million euros.

$1 = 0.8977 euros Reporting by Aleksandar Vasovic; Editing by Ivana Sekularac

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