July 22, 2014 / 2:23 PM / 6 years ago

Serbian central bank intervenes to bolster dinar - dealers

BELGRADE, July 22 (Reuters) - The Serbian central bank intervened on Tuesday by selling euros on the interbank currency market to bolster the dinar after it lost ground amidst stronger demand by local banks for the euro, dealers said.

The dinar briefly touched 117.0 per euro, before the central bank intervened. It had traded at an average 116.6 on Monday.

“Banks pushed the demand for euro,” said a dealer with a Belgrade-based commercial bank.

“Trading volume by noon (1000 GMT) was about 23 million euros ($30.98 million) as opposed to a day earlier when it was only around 9 million euros,” he said.

The central bank has so far this year purchased 200 million euros and sold 840 million euros on the currency market to stabilise the dinar’s exchange rate.

$1 = 0.7425 Euros Reporting by Aleksandar Vasovic; Editing by Zoran Radosavljevic and Jeremy Gaunt

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