NBS sells EUR 10mn in order to enable normal functioning of the foreign exchange market

Belgrade, Feb.11, 2010 (Serbia Today) - National Bank of Serbia (NBS) sold EUR 10mn on the interbank foreign exchange market on Monday, Serbian News Agency Tanjug reports. The decision came in order to encourage trading and enable normal functioning of the foreign exchange market, the central bank said in a statement.The indicative euro exchange rate on Monday, determined by the morning trading on the interbank foreign exchange market, was RSD 98.6946 for one euro, said NBS. Including today's intervention, the central bank has sold a total of EUR 351.5mn since the beginning of the year, in order to alleviate excessive oscillations in the dinar exchange rate and enable normal functioning of the foreign exchange market. On Monday, the dinar continued its three-day recovery trend against the euro, as it went up by three paras (1 dinar=100 paras) or 0.03 percent, making the official middle exchange rate RSD 98.6519.