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Slovak Crown confounds National Bank's intentions

THE SLOVAK CROWN seems to be unstoppable. In spite of the
National Bank's intervention on interest rates in November, the crown dropped below the Sk39 to the euro mark to close the day at Sk38.93/95 to the euro December 13, according to the Hospodarské noviny business daily.

The strength of the Slovak crown reflects a changing trend in the region, with both the Czech crown and the Polish zloty also appreciating in value.

The National Bank has not yet reacted to the news but the level of the crown against the euro is lower than when they intervened in November.

Against the dollar and Czech crown, the Slovak currency closed at 29.33/36 crowns to the US dollar and 1.270/271 Slovak to the Czech crown December 13.

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

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