February 3, 2017 / 9:51 AM / a year ago

Serbia's central bank sells euros to bolster dinar - dealers

BELGRADE, Feb 3 (Reuters) - Serbia’s central bank sold euros on the local interbank market on Friday, dealers said, to bolster the dinar which remained weak due to seasonal demand and expectations of U.S. Federal Reserve interest rate hikes.

It sold 30 million euros on Thursday.

The dinar was trading at 124.23, slightly weaker than the previous close, when the bank started selling euros on Friday and it rallied to 124.15 by 0940 GMT, following the intervention.

So far in 2017, the bank has sold 270 million euros.

On Thursday, bank’s governor Jorgovanka Tabakovic said the dinar’s weakness this year was due to seasonal factors such as increased energy imports and expectations of U.S. rate hikes. (Reporting by Aleksandar Vasovic; Editing by Louise Ireland)

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