Domestic currency reaches lowest level in 2014

Domestic currency reaches lowest level in 2014

BELGRADE -- The Serbian dinar (RSD) continues its two-day decline against the euro (EUR) by dropping another 0.2 percent or 18 paras on Tuesday.

This set the medium exchange rate at RSD 116.4267 for one euro.

The exchange rate is the lowest value of the dinar against the euro in the course of this year, the National Bank of Serbia (NBS) said.

The Serbian national currency has dropped against the common currency of the EU by 0.8 percent compared to the previous month, and by 2.4 percent compared to last year.

The indicative exchange rate of the dinar against the U.S. dollar dropped by 0.4 percent to RSD 86.1335.

The value of the dinar dropped against the dollar by 1.6 percent compared to last month and by 0.3 percent compared to last year.

The highest medium exchange rate of the dinar was reported on January 1, 2014, when one euro was worth RSD 114.6421.

Since the beginning of the year, the central bank bought a total of EUR 200 million and sold EUR 840 million on the inter-bank foreign currency market to prevent excessive daily volatility of the exchange rate.