Spectator on facebook

Spectator on facebook

IN SHORTS

NBS halts crown fall

THE NATIONAL Bank of Slovakia (NBS) finally reacted to the Slovak crown's sharp decline on June 11 by buying what dealers estimated was 30-50 million euro worth of the local currency.

The bank intervened to support the crown despite statements made last week by bank governor Marián Jusko, who then expressed satisfaction with the development of the local currency falling from its historically strongest levels against the euro.

After reaching a high of 41.37 crowns to the euro in the first half of April, the crown fell to 44.80 to the euro on June 11, prompting the NBS intervention, which propped exchange rates back to 44.43 SKK/EUR.

"The central bank decided to intervene in favour of the crown, considering such a level as harmful," said František Szulényi, head of the NBS treasury department.

"I am convinced that if the NBS had stayed passive, the crown would have weakened even more," he said.

He added that the NBS expected exchange rates to stabilise at an acceptable level, adding that "the NBS is ready to intervene again in case the crown gets to a level not beneficial for the national economy."

Top stories

How to sell Slovak books to English readers

Slovak literature makes it to the big bookstores of London, but it is unlikely to become a bestseller yet.

On Wednesday, Slovak literature will be presented in one of the biggest bookstores in London. Among the new books translated into English is also the anthology of current Slovak prose selected and translated by Magdalena Mullek and Júlia Sherwood.

Slovakia vies for medicines agency

What chances does the country have at winning the seat of the prestigious European Medicines Agency that needs to relocate from London?

Illustrative stock photo

Vote-buying scandal lands village mayor in court

Some Roma claiming the mayor of Gemerská Poloma, Miroslav Michalka was buying votes, have changed their testimonies.

Stanislav Kučerák (blue shirt) is a key witness in the vote-buying case.

British embassy opens condolence book

The book will be opened for two days.

Floral tributes are laid out in Manchester, England, on May 23, 2017, the day after the suicide attack at an Ariana Grande concert that left 22 people dead as it ended on May 22 night.