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Dinar drops by 0.1 percent, rate at RSD 111.5

02. April 2012. | 12:49

Source: Tanjug

The Serbian dinar will weaken by 0.1 percent against the euro on Monday, thus setting the official middle exchange rate at RSD 111.5123 and hitting a new yearly low, the National Bank of Serbia (NBS) released.

The Serbian dinar will weaken by 0.1 percent against the euro on Monday, thus setting the official middle exchange rate at RSD 111.5123 and hitting a new yearly low, the National Bank of Serbia (NBS) released.

On Friday, the NBS sold EUR 60 million at the interbank foreign exchange market.

During the weekend, the Friday exchange rate was valid, according to which EUR 1 was worth RSD 111.3643.

Since the beginning of 2012, the central bank sold EUR 438.5 million, not including the intervention on Friday, so as to alleviate the excessive daily volatility of the exchange rate.

Last week, the NBS intervened every day except Monday, March 26, and sold a total of EUR 130 million.

The Serbian currency reached the highest level on January 11, when the official middle exchange rate was RSD 103.6922.

In comparison to its level a month ago, the dinar will drop by 0.6 percent against the single European currency; and when compared to its level a year ago, it will suffer a slide of 7.3 percent.

The indicative dinar vs. U.S. dollar exchange rate stood at RSD 83.5361 on Friday, reflecting a drop of 0.3 percent on the day before.

The dinar weakened against the U.S. dollar by 0.3 percent on a monthly, and by 12.7 percent on an annual level.

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