March 6, 2018 / 8:41 AM / 5 months ago

Serbia's central bank buys euros to stem dinar gains - dealers

BELGRADE, March 6 (Reuters) - The Serbian central bank purchased an unspecified amount of euros on local interbank market Tuesday to stem gains in the dinar currency, which remained strong due to sales of domestic treasury bonds and an increased supply of euros, dealers said.

The bank, which a day earlier purchased 60 million euros, started buying the common currency as the dinar traded at the rate of 118, slightly stronger than a day before.

After the currency intervention, the dinar weakened to 118.09, Reuters data showed. So far this year the central bank has bought 360 million euros and sold 180 million euros to tame the exchange rate of the dinar, which it keeps in a managed float. (Reporting by Aleksandar Vasovic Editing by Peter Graff)

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