Central Bank Governor: Crown will not be allowed to firm indefinitely

Though Slovakia's central bank, the National Bank of Slovakia (NBS), is satisfied with Slovakia's economic development, it will not let the local crown firm indefinitely, NBS governor Marian Jusko told the news agency TASR.

The crown has posted several record levels against the euro in recent days and reached another historic maximum of 39.36/38 SKK/EUR bid and offer rates on Friday morning.

"The level which the NBS would not want the crown to move beyond is flexible and depends on the country's economic performance. That does not mean, however, that we will accept any exchange rate," Jusko said.

"If speculation is behind the crown's appreciation, the NBS will take measures," he added.

Compiled by Marta Ďurianová from press reports
The
Slovak Spectator cannot vouch for the accuracy of the information
presented in its Flash News postings.

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