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Slovak crown eases due to political crisis

THE SLOVAK crown eased against its referential currency, the euro, on September 13, due to the ruling coalition's inability to form a quorum in parliament and the rising probability of an early election, the TASR news wire reported.

"The political crisis has influenced the crown's rate more than elsewhere in Central Europe, with the Slovak crown being the only currency in the region that has eased," VÚB Banka dealer Ladislav Benedek told the TASR news wire.

Benedek expects the crown's easing to continue in the upcoming days. A different development is possible only if the crisis is solved and the threat of early elections recedes. According to Benedek, the crown should not ease very significantly. However, it is difficult to tell what limits are realistic, as the limits will depend on regional developments.

The crown eased against the US dollar as well. It closed at 31.31/31.32 crowns to the dollar, which is 20 hellers weaker than in previous days.

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

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