Serbia sells 80 million euros to stem dinar losses

Serbia's central bank sold 80 million euros ($86.59 million) on the interbank currency market on Friday to bolster the dinar, which remained weak on increased offers of the domestic currency and under pressure from investors cutting exposure to emerging markets. The bank, which took its total euro sales this week to 170 million euros, intervened with the dinar trading at 123.45 to the euro, 0.1 percent weaker than the previous close.
The dinar, which central bank keeps in a managed float against the euro, traded at 122.65 at 1630 GMT. In a short statement, the bank said it sold euros to "absorb daily oscillations of the (dinar) exchange rate".