The Serbian dinar dropped 0.1 percent or 13 paras against the euro on Wednesday to a historic low of RSD 111.6085, the National Bank of Serbia (NBS) has announced.

The central bank did not intervene in the interbank foreign exchange market Tuesday, but it has sold EUR 498.5 million since the beginning of 2012 in an effort to alleviate the excessive daily volatility of the exchange rate.

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

The dinar is down 0.7 percent against the single European currency compared to a month ago, and 7.9 percent from this time last year.

The indicative dinar vs. U.S. dollar exchange rate stood at RSD 83.8027 on Tuesday, reflecting a drop of 0.3 percent from the day before.

The dinar weakened against the U.S. dollar by 0.6 percent on a monthly, and by 13.8 percent on an annual level.