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Slovak crown gets boost

The SITA newswire reports that the Fitch rating agency has revised Slovakia's credit outlook upward from stable to positive for long-term foreign debt, indicating Fitch's opinion that Slovakia will probably meet the Maastricht criteria for euro adoption by January, 2009.

Following the announcement Slovak currency strengthened significantly Monday afternoon. "The crown consequently broke the 33.00 SKK/EUR barrier, when its exchange rate against the euro reached 32.99 SKK/EUR," OTP Banka's Eduard Pracko said.

Compiled by Zuzana Vilikovská from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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