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Crown has room to grow

THERE is room for the Slovak crown to strengthen, National Bank of Slovakia Governor Ivan Šramko told the news wire SITA.

The exchange rate of the Slovak crown and other regional currencies is still affected by impressions and predictions rather than real macroeconomic development, he said.

The depreciation trend on the Slovak FOREX market, which started in mid-March as a consequence of the mutual correlation of Visegrad Group countries' currencies, continued in April, according to Šramko.

"The NBS intervened against depreciation that was too steep, which is in line with limiting the volatility of the local currency in both directions," he said.

Compiled by Beata Balogová from press reports
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