Serbian Dinar hits new low

Belgrade, Feb. 22, 2010 (Serbia Today) - When banks open on Monday, February 22, the domestic currency will be at its lowest value compared to the Euro since the introduction of the European currency in 2002. One Euro will be worth RSD 98.9293 on Monday. This decrease in value will occur despite interventions by the National Bank of Serbia, which sold an additional EUR 10mn on the foreign currency market in an effort to avoid further drops in the domestic currency’s worth. The NBS has sold EUR 371.5mn thus far this year in an effort to stabilize the exchange rate. In 2010, the dinar was at its highest rate on January 4, at which time one euro was worth RSD 95.9679.