ECONOMIC BRIEFS

Slovakia's forex reserves down to $6.15 billion at end of year

Preliminary data indicates that Slovakia's total foreign exchange reserves amounted to $6.1513 billion on December 31, 1998. The forex reserves of the National Bank of Slovakia (NBS) were $2.9223 billion, while those of commercial banks equaled $3.2290 billion.

The central bank said the figures represented a significant drop in the country's foreign exchange reserves by almost $1 billion in the last week of 1998. The NBS said the drop was caused by the accounting operations of some commercial banks. Forex reserves totaled $7.1363 billion on December 22.

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