ZAGREB, 24 March 2022 - The main Zagreb Stock Exchange (ZSE) indices went down on Thursday amid modest turnover, with the Crobex dropping by 0.43% to 2,053 points and the Crobex10 falling by 0.22% to 1,235 points.

Regular turnover was a mere HRK 4.7 million, or HRK 3 million less than on Wednesday.

The highest turnover, of HRK 660,000, was generated by the stock of the plastic car parts manufacturer AD Plastik. Its price decreased by 1.22% to HRK 97.2 per share.

Thirty stocks traded on the ZSE today, with eight gainings and 15 losing in price, while seven were stable.

(€1 = HRK 7.572093)

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March the 4th, 2022 - The Croatian National Bank (CNB/HNB) has sold a massive 171 million euros to various banks in a recent exchange rate intervention, the first which has taken place since back in June last year.

As Jadranka Dozan/Poslovni Dnevnik writes, on the 2nd of March, the Croatian National Bank intervened in regard to the exchange rate by selling off foreign exchange to banks in order to preserve the stability of the exchange rate, while 171 million euros were sold to banks at an average exchange rate of 7.562505, the central bank announced.

As a result of this foreign exchange intervention, which has obviously been primarily driven by increased demand for foreign exchange, about 1.3 billion kuna is being withdrawn from the system.

After the opening of that day's trading, the market exchange rate of the euro/kuna stood at 7.58, which is slightly higher than it had been. In the daily reviews of leading banks on the Croatian foreign exchange market, it could be read that on Tuesday this week, there was a slightly higher demand for euros by corporate clients for foreign currency payments, but in the past few days, a slightly higher demand was attributed primarily to the retail sector.

As briefly touched on, the Croatian National Bank last intervened in the foreign exchange market back in mid-June of last year, but then it was by buying foreign exchange from banks as a result of increasing appreciation pressures, while the last time it intervened by specifically selling off euros was in the first half of April 2021.

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