April 26, 2018 / 1:59 PM / 5 months ago

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

BELGRADE, April 26 (Reuters) - Serbia’s central bank bought an unspecified quantity of euros on the interbank market on Thursday to stem gains of the dinar against the common currency, dealers said.

The bank, which keeps dinar in a managed float against the euro, a preferred foreign currency, stepped in as the dinar traded at 117.97 to the euro, 0.1 percent stronger than the previous close.

After the intervention the dinar weakened to 118.25 to the euro, Reuters data showed. So far this year, the bank purchased 720 million euros ($877.46 million) to rein in dinar’s exchange rate to euro.

$1 = 0.8205 euros Reporting by Aleksandar Vasovic;

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