The Croatian National Bank has made a second consecutive intervention on the foreign exchange market in its attempts to stop the appreciation of the domestic currency. The central bank purchased from commercial banks €70.3 million ($90 million) at an average exchange rate of 7,283191. As recalled, HNB purchased on Monday, May 8 another €44.7 million but this move did not have any effect on the exchange rate.

The combined purchases in the last two days amount to €115 million. This was the fourth intervention of the central bank on the forex market this year. The first one was in mid-February, when €83.05 million were purchased; the second one was on March 2 and included the purchase of €35.5 million. Despite the latest two interventions no major changes in the HRK/EUR exchange rate were evidenced, and it is expected that the HRK will continue making further gains in the future.