National bank wants to save the dinar

Belgrade, June 12. 2010. (Serbia Today)  Bank demand for Serbian dinars (RSD) was far greater than that for foreign currency at the 3-monthly foreign exchange swap auctions, said reports. The auctions were organized by the National Bank of Serbia (NBS). “The NBS swap bought EUR 10mn at weighted average swap points of 15,892, while no bank bids for the purchase of foreign currency were accepted”, according to a statement from the central bank. The NBS organizes foreign exchange swap auctions every three months with the aim to boost interbank foreign exchange swap trading and encourage development of the foreign exchange hedging market.