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Serbia's central bank buys euros to stem dinar gains - dealers
November 2, 2017 / 11:10 AM / a month ago

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

BELGRADE, Nov 2 (Reuters) - The Serbian central bank purchased an unspecified quantity of euros on Thursday to stem gains of the dinar currency driven by investors’ appetite for Serbia’s treasury bonds and monthly dinar payments of companies, dealers said.

The bank stepped in as the dinar traded at 118.65 to the euro. After the intervention the dinar retreated to 119.07 to the euro.

The central bank which keeps the dinar in a managed float to the common currency, so far in 2017 bought over 1 billion euros ($1.17 billion) to prevent excessive oscillations of the dinar.

$1 = 0.8517 euros Reporting by Aleksandar Vasovic; Editing by Ivna Sekularac

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