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ECONOMIC BRIEFS

Downward trend of Forex reserves at commercial banks stabilizes

In mid-March, the hard currency holdings of commercial banks finally stabilised after several weeks of decline, increasing by $163 million in one week to hit $1.6726 billion on March 17.

Commercial banks' Forex reserves had been falling for weeks after a decision by the NBS Bank Board to abolish the foreign exchange position limit for domestic banks and branches of foreign banks. In order to meet the required ratio between assets and Forex reserves, banks had been artificially inflating their total assets and liabilities. By canceling the measure, the NBS had been trying to return banks' Forex reserves to their natural levels.

Top stories

Jourová: Fico not fully informed on all EC’s activities on double standards

European Commission President Jean-Claude Juncker will meet with Fico to discuss double quality standards of foods on July 27 in Brussels.

European Commissioner for Justice, Consumers and Gender Equality Věra Jourová

Heatwaves to continue in Slovakia over the following days

More than 40 people collapsed due to hot weather on Thursday.

Foreigners: Events in Bratislava Video

Tips for performances and other events in the capital between July 21 and July 30, including concerts, parties, festivals, classical music, inline skating, exhibitions and more.

Analysis: Slovakia lacks competitive tourism

Neither Slovakia nor the Czech Republic are countries in which tourism could be viewed as the bedrock of their economies, an analysis by UniCredit Bank finds.

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