August 28, 2014 / 2:36 PM / 3 years ago

Serbian central bank sells euros to boost the dinar currency

BELGRADE, Aug 28 (Reuters) - Serbia’s central bank sold euros on the interbank currency market on Thursday to boost the dinar currency, which has been trading around 23-month lows since early August.

“The bank sold around 10 million euros to keep the dinar below 118 to the euro,” a Belgrade-based dealer said.

The dinar traded at 117.95 to the euro on Friday or up 0.30 dinars up from Wednesday’s close of 117.65.

“The dinar is still mostly affected by fiscal risks, diluted chances of getting the IMF support soon and the private sector’s external de-leveraging,” Hypo said in a daily note.

The bank will issue a detailed statement on Thursday’s intervention, the fifth this month, later in the day.

Serbia hopes to begin loan talks with the International Monetary Fund in September, later than originally expected. (Reporting by Ivana Sekularac; Editing by Matt Robinson)

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