Domestic currency sinks to 123 per euro

BELGRADE -- The Serbian dinar (RSD)is down by 0.5 percent against the euro (EUR) on Tuesday, with the official exchange rate at a record low of RSD 123.4677 for one euro.

The Serbian currency is down 2.3 percent against the eurozone's single currency compared to a month earlier and 6.5 percent compared to a year earlier, the central bank said on Tuesday.

The dinar is up by 0.2 percent against the U.S. dollar, setting the indicative dinar-versus-dollar exchange rate at RSD 109.5251.

Placed against the U.S. currency, the dinar is worth 9.8 percent less than a month ago and 23.0 percent less than a year ago.

In 2015, the Serbian currency touched its highest middle exchange rate level on January 5, when one euro could buy RSD 121.1543.

Since the beginning of 2015, the central bank sold a total of EUR 70 million on the interbank foreign exchange market so as to prevent the excessive daily fluctuations of the exchange rate.

The highest middle exchange rate in 2014 was recorded on January 1, when one euro equaled RSD 114.6421, while the lowest level was noted on December 18 with RSD 122.6321 for one euro. In 2014, the dinar weakened against the euro for 5.2 percent.