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ECONOMIC BRIEFS

Central bank forex reserves fall to $2.94 billion as of Oct 7

The Slovak central bank said on October 9 that its foreign currency reserves fell to $2,944.9 million as of October 7 from $3,180.0 million as of September 29. Overall, Slovak banking sector reserves fell from $7,703.3 billion to $7,274.9 in the same period. The central bank, which had been using its reserves to defend the Slovak curreny, decided to cancel the fluctuation band of the crown on October 1 citing concern with falling hard currency reserves.

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