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NBS holds up falling crown after news of future cabinet

AFTER days of continued losses on the forex market, the National Bank of Slovakia (NBS) directly intervened yesterday to defend the Slovak crown against the euro.

UniBanka dealer Patrik Malec told SITA the central bank intervened when the crown found itself at 38.48 SKK/EUR. Shortly after noon, the exchange rate was already at 38.25/38.28 SKK/EUR.

The crown opened Thursday's trading about 25 hellers weaker than it closed on Wednesday (38.40 SKK/EUR), in response to the formation of an anti-reform coalition government.

The central bank most recently intervened a week ago, when the crown fell to 38.55 SKK/EUR.

Compiled by Martina Jurinová from press reports

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