ECONOMIC BRIEFS

Forex reserves reached 1998 pinnacle of $7.331bn

The country's total foreign currency reserves reached their 1998 pinnacle of $7.331 billion on March 11, a $788 million increase over the end of last year and a $159.6 million jump over the week before, the National Bank of Slovakia (NBS) announced on March 13. The improvement was due mainly to the improved performance of commercial banks on the money market, as on March 11, their forex reserves were $4.101 billion, a $843.5 million increase over the end of last year and a $150 million jump over the week before. The NBS's foreign currency reserves reached $3.229 billion on March 11, a $9 million improvement over March 4.

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