Dinar to euro exchange rate goes above RSD 118

BELGRADE - The dinar has again dropped by 0.1 percent against the euro on Wednesday, setting the official middle exchange rate at RSD 118.0728, the National Bank of Serbia (NBS) stated in a release.

On Tuesday, the NBS sold RSD 5 million in the interbank forex market so as to prevent further fall in the national currency, which stands at the lowest level since the beginning of the year.

The dinar has weakened against the single European currency by 1.1 percent when compared to the level a month ago, and 3.2 percent if compared to the one a year ago.

The Serbian currency has also dropped against the dollar by 0.1 percent, which means that one dollar is traded for RSD 89.9602.

Therefore, the dinar is 3 percent down on this time last month, and 3.6 percent down on the year against the U.S. dollar.

This year, the middle exchange rate stood at the highest level on January 1, when one euro was worth RSD 114.6421.

Since the start of the year, the NBS purchased EUR 200 million, and sold EUR 925 million in total, including today's transaction, so as to ease the excessive exchange rate volatility on a daily basis.

Photo Tanjug, M. Jelesijevic (illustration)