ZAGREB, March 24 (Xinhua) -- The Croatian National Bank (HNB) has intervened in the foreign exchange (forex) market to stabilize the exchange rate due to stronger demand for the euro and a slight weakening of the Croatian currency kuna, local media reported on Thursday.
It's the second time for HNB to take such a move since the beginning of March, according to the local daily Jutarnji list (The Morning Paper).
The HNB sold 144 million euros (158.2 million U.S. dollars) at an average exchange rate of 7.567 kunas per euro on Wednesday, in addition to the 177 million euros sold at the beginning of this month at an average exchange rate of 7.562 kunas per euro.
Accordingly, the HNB has sold a total of 321 million euros to stabilize the foreign exchange market.
Recently, exchange offices and banks in Croatia have been reporting an increased demand for the euro due to the conflict in Ukraine and to the country's expected entry into the eurozone next year.
However, despite the prevailing challenges and uncertainties, Croatia's Minister of Finance Zdravko Maric has said that there is no need for "hasty and sudden measures," the paper noted.
Croatia plans to enter the eurozone on Jan. 1, 2023. Prices in the country's shops and stores will be displayed in both kuna and euro from September this year. ■