Central bank governor: Crown firming "too quickly"

SLOVAKIA'S central bank governor, Ivan Šramko, verbally intervened against the surging domestic currency yesterday, noting that the recent strengthening of the crown was too steep.

"Our analyses show that the gains of the Slovak currency are excessive. We will see how the situation develops in future," Šramko said after the cabinet session on December 13.

Šramko refused to comment on any possible direct interventions by the National Bank of Slovakia (NBS) to halt the strengthening of the Slovak currency. The next NBS Bank Board session, at which such a step might be taken, is scheduled for next Wednesday.

On December 13, 2006 the crown came to a new maximum of 34.620 SKK/EUR, and has now gained almost 10 percent against the euro currency since Slovakia entered the ERM II “waiting room” for adopting the euro in November 2005.

Get daily Slovak news directly to your inbox

Top stories

Better times ahead for the Calvary in Bratislava

The last preserved station was restored this summer.

The last preserved station of the Stations of the Cross in Bratislava

Why you need to buy a belt

On this Black Friday, with society teetering on the brink of chaos, I ask that we all do our part.

Roundup: Bratislava’s Old Market Hall hosts Christmas markets

If you have not watched the 'Dracula' miniseries, filmed in Slovakia last year, it is about time.

Bratislava’s Old Market Hall will provide visitors with Christmas vibes in the coming four weeks. Each week, from Wednesday to Saturday, people can do a little bit of Christmas shopping at the venue.

Fico admits to ties with Bödör

Former prime minister stands by his praise for the state secretary who confessed to corruption and court interference.

Robert Fico during his November 26 press conference.