After plummeting for a month, the Serbian dinar strengthened 0.3 percent Tuesday to an official middle exchange rate of RSD 117.3571 for one euro, announced the National Bank of Serbia (NBS) which sold EUR 18.5 million on Monday.

Since the beginning of 2012, the central bank has sold a total of one billion and 288.8 million euros on the interbank foreign exchange market so as to ensure smooth running of the foreign exchange market.

This year, the dinar hit its highest level against the single European currency on January 11 with the exchange rate at RSD 103.6922.

The dinar is 4.6 percent down on this time last month, and 16.9 percent down on the year. Since the start of the year, the dinar has weakened 10.8 percent against the euro.

On Monday, the indicative dinar-versus-dollar exchange rate was at RSD 93.9684, up 0.9 percent from the day before.

The dinar weakened against the U.S. dollar by 9.5 percent when compared to the level a month ago, and by 28.3 percent if compared to a year ago.

Since the start of the year, the dinar has weakened 13.9 percent against the dollar.