The Croatian Central Bank (HNB) intervened on the foreign exchange market on Wednesday, selling €144 million to commercial banks at an exchange rate of 7.56 kuna for one euro.

It was the second foreign exchange intervention this month, coming at a time of increased demand for foreign currency from the corporate and banking sectors, according to analysts.

The HNB sold €171 million on 2 March, and before that it had intervened on the foreign exchange market in mid-June 2021.

The kuna depreciated against the euro by a marginal 0.009 per cent from Tuesday. The central bank’s middle exchange rate, applicable as of Thursday, is 7.57 kuna for one euro.

Liquidity in the domestic financial system is record high, around 80 billion kuna.