Serbian currency continues to weaken against euro

Serbian currency continues to weaken against euro

BELGRADE -- The value of the Serbian is lower by 0.1 percent on Monday with the official middle exchange rate at RSD 120.6223, the National Bank of Serbia (NBS) announced.

The Serbian currency will drop to its record low although the central bank sold EUR 10 million to slow down the drop of the national currency.

On the monthly level, the dinar will be weaker against the euro by 1.3 percent, and the drop on the annual level will total 5.5 percent.

The indicative exchange rate of the U.S. dollar strengthened by 0.1 percent, totalling RSD 96.7610.

The dinar dropped against the dollar by 2.1 percent on the monthly level, while the drop on the annual level totals 13.5 percent.

The dinar reached its record high on January 1, 2014, totalling RSD 114.6421. The previous record low was recorded on November 28, with the official middle exchange rate at RSD 120.5468.

Since the beginning of the year, the NBS purchased EUR 200 million and sold EUR 1.415 billion in order to prevent excessive daily oscillation of the exchange rate.

"Set of measures"

Governor of the National Bank of Serbia (NBS) Jorgovanka Tabakovic stated on Sunday that NBS is investing efforts to ensure stability of the dinar and added that the central bank is using a set of measures to minimise the drop of the national currency.

Compared to some other, stronger countries such as Turkey and Russia where national currencies are low, the Serbian dinar recorded the greatest drop against the euro, Tabakovic told the Belgrade-based TV Pink.

She noted that the rate of the dinar against the euro depends on the health of the economy,...