The Serbian dinar weakened by three para against the euro on Wednesday, setting the official middle exchange rate at RSD 111.7003, the National Bank of Serbia (NBS) has announced.

On Tuesday, the central bank did not intervene on the interbank foreign exchange market. Since the beginning of the year, the NBS has sold a total of EUR 558.5 million so as to ease the excessive exchange rate volatility on a daily basis.

This year, the dinar hit its lowest level on April 6 when the official middle exchange rate was RSD 111.7057, and its highest on January 11 with the exchange rate at RSD 103.6922.

The dinar is down 0.9 percent from this time last month, and 9.3 percent down on the year.

On Tuesday, the indicative dinar-versus-dollar exchange rate was at RSD 85.3, down 0.2 percent from the day before.

The Serbian dinar weakened against the U.S. dollar by 2.1 percent when compared to the level a month ago, and by 17.9 percent if compared to a year ago.