Serbia's central bank bought euros on the local interbank market on Tuesday to stem gains by the dinar against the common currency. "Over the past several days, non-residents (investors) have been selling foreign currencies in larger amounts and purchasing dinars to invest in (Serbia's) long-term treasury bonds," the bank said in a statement.
It did not specify the size of the intervention. The central bank, which keeps the dinar in a managed float against the common currency, said that so far this year it purchased 380 million euros and sold 130 million euros. On Tuesday, Serbia's debt agency said it had raised 26.7 billion dinars ($255 million) in reopening of a Jan. 9 seven-year treasury bond.