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UPDATE 1-Serb cbank intervenes again to prop up dinar

Published 01/28/2009, 09:30 AM
Updated 01/28/2009, 09:32 AM
EUR/RSD
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BELGRADE, Jan 28 (Reuters) - Serbia's central bank intervened for the second time on Wednesday, selling another 20 million euros to prop up the dinar after it hit a new record low earlier in the day. "They sold 20.45 million euros at 94.00 dinars," one currency dealer said.

Earlier in the day, the bank sold 57 million euros at 95.00-95.50/euro only hours after the Serbian currency fell by 1.1 percent to 97.50 to the euro, with dealers citing strong demand from oil and gas monopolies. Deputy Prime Minister Mladjan Dinkic said on Wednesday that more aggressive central bank intervention would ensure the currency stability in an economy struggling to post a 3.5 percent growth in 2009. (Reporting by Gordana Filipovic; *************)

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