Slovak crown wobbly, banks close positions

Banks began closing their forex market positions on Friday, amid uncertainties over what the weekend would bring. The Slovak crown depreciated from its initial level of 43.40/43.45 SKK/EUR to 43.55/43.60 SKK/EUR. Further developments on the forex market will depend on the mood on US markets, which will reopen after the September 11 terrorist attacks for the first time on Monday, said ING Bank dealer Zuzana Rafajová. She said she expects the local currency to move around 43.40/43.70 SKK/EUR at the beginning of next week.

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