Serbian currency hits new low this year

BELGRADE -- The Serbian dinar (RSD) dropped by 0.05 against the euro (EURO) on Monday, putting the middle exchange rate at RSD 119.5510 for one euro.

This is the lowest value of the domestic currency against the euro his year, the National Bank of Serbia (NBS) has stated.

The NBS sold EUR 10 million on the Interbank Foreign Exchange Market to prevent excessive volatility of the dinar.

The Serbian currency is down 0.6 percent against the euro compared to a month ago and 4.7 percent compared to a year ago.

The indicative exchange rate with the US dollar is up by 0.4 percent, at RSD 93.6993 for USD 1.

The dinar is down 2 percent against the dollar compared to a month ago and 11 percent compared to a year ago.

The dinar was at its highest middle value on January 1 this year, when EUR 1 was RSD 114.6421. Its previous lowest value was recorded on October 8, when EUR 1 cost RSD 119.5502.

The NBS has bought EUR 200 million and sold EUR 1.145 billion on the Interbank Foreign Exchange Market since the start of the year to prevent excessive volatility of the dinar.