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.

Get daily Slovak news directly to your inbox

Top stories

News digest: Penta partner Haščák reportedly charged with corruption after a police raid

Anti-communist fighters will receive pensions. Sunk tugboat being drawn out of the water.

Jaroslav Haščák

Car industry needs to jump on the latest trends

Economy minister promises extensive support for hydrogen technologies in Slovakia.

The Hydrogen Technology Research Centre (CVVT) is to be launched at the end of 2020 or beginning of 2021 in Košice to do R&D in this field.

Responsibility goes hand in hand with EU advantages, says President Čaputová

President Zuzana Čaputová spoke with Vice President of the European Commission for Values and Transparency, Věra Jourová.

President Zuzana Čaputová

Half of all parents lack time to help their children with distance learning

Some have a hard time motivating their children, others do not understand the curriculum.