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ECONOMIC BRIEFS

Forex reserves drop to the lowest level in six years

Foreign exchange reserves (FOREX) of the National Bank of Slovkia (NBS) dropped to US$2.78 billion, their lowest level in the country's six-year history, an NBS spokesman said on April 7. This represents a fall of US$140 million compared to December 31, 1998.

Commercial banks' foreign exchange reserves of $1.56 billion have been cut in half since the beginning of the year. But they have actually rebounded slightly since their "blackest" days in the second week of March, when they fell to $1.51 billion. Collectively, the banks had $4.25 billion in foreign exchange reserves at the beginning of April.

Top stories

In praise of concrete

It was once notorious for its drab tower blocks and urban crime, but Petržalka now epitomises modern Slovakia.

Petržalka is the epitome of communist-era architecture.

Slow down, fashion

Most people are unaware that buying too many clothes too harms the environment.

In shallow waters, experts are expendable

Mihál says that it is Sulík, the man whom his political opponents mocked for having a calculator for a brain, who “is pulling the party out of liberal waters and towards somewhere completely different”.

Richard Sulík is a man of slang.

Blog: Exploring 20th century military sites in Bratislava

It seems to be the fate of military sites and objects in Bratislava that none of them were ever used for the purposes they were built for - cavernas from WWI, bunkers from WWII, nuclear shelters or the anti-aircraft…

One nuclear shelter with a capacity for several hundred people now serves as a music club with suitable name Subclub (formerly U-club).