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UPDATE 1-Serbian central bank steps in to support dinar
March 7, 2014 / 4:23 PM / 4 years ago

UPDATE 1-Serbian central bank steps in to support dinar

(Adds central bank statement)

BELGRADE, March 7 (Reuters) - Serbia’s central bank said it had sold 10 million euros on the domestic currency market on Friday, the fifth such intervention this week in support of the dinar ahead of a mid-March election.

The central bank stepped in as the dinar hit 116.15 against the euro during weak trading, said a dealer with a Belgrade-based commercial bank. The currency later recovered to 115.95.

The central bank, which maintains a managed float of the dinar, has sold around 730 million euros ($1.01 billion) so this year in support of the currency, including 70 million euros this week.

$1 = 0.7225 euros Reporting by Aleksandar Vasovic; Editing by Matt Robinson/Jeremy Gaunt

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