Thursday, May 31, 2012

Dinar down by 0.3 %,exchange rate 116.61 for EUR 1

BELGRADE - The Serbian dinar went down by 0.3 percent against the euro on Thursday, setting the official middle exchange rate at EUR 116.6121 for EUR 1, the NBS said in a release.

Since the beginning of the year, the central bank sold a total of one billion and 121.2 million euros on the interbank foreign exchange market to alleviate the excessive daily volatility of the exchange rate.

This year, the dinar hit its highest level against the single European currency on January 11 with the exchange rate at RSD 103.6922.

The dinar is 0.4 percent down on this time last month, and 16.8 percent down on the year. Since the beginning of the year, the dinar slid against the euro by 10.3 percent.

On Wednesday, the indicative dinar-versus-dollar rate was 93.8830, down 0.8 percent from the day before.

The dinar weakened against the U.S. dollar by 10.1 percent when compared to the level a month ago, and by 28.2 percent if compared to a year ago.

Since the beginning of the year, the dinar recorded a 13.9 percent drop againt the U.S. currency.

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