The Croatian National Bank (HNB) intervened today in the foreign exchange market by purchasing 119.4 million euros from banks at an average exchange rate of 7.204765 kuna per euro, as announced by the central bank.
This is the third intervention by the HNB in the foreign exchange market this year, all of which have occurred in the last two weeks, undertaken in an effort to mitigate appreciation pressures on the kuna, or to stop the strengthening of the kuna against the euro. The HNB has purchased a total of 363.7 million euros from banks in these three auctions, thus injecting more than 2.6 billion kuna. The first intervention was on June 24, when the HNB purchased 125.6 million euros from banks at an average exchange rate of 7.201095 kuna per euro. In the second intervention, on June 29, the HNB purchased 118.7 million euros from banks at an average exchange rate of 7.200433 kuna per euro. The kuna has strengthened against the euro by 0.05 percent according to today’s exchange rate list of the Croatian National Bank compared to yesterday’s exchange rate list and by 0.06 percent compared to the exchange rate list from last Friday. (H)
