Serbia buys euros to rein in dinar gains

03 Jun, 2017

The Serbian central bank continued with euro purchases on the local interbank market on Friday to rein in gains of the dinar, which have been fuelled by increased demand and lending, dealers said. The central bank, which a day earlier purchased 15 million euros ($16.83 million), and 175 million euros so far in 2017, stepped in as the dinar traded at 122.20 to the euro, dealers said. After the intervention, the dinar weakened to 122.32 per euro as of 0805 GMT, Reuters data showed.

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