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Crown hits new historic best against US dollar

On February 27, the Slovak crown again reached record-breaking levels against the weakening US dollar, briefly reaching Sk21.74 per dollar, UniCredit Bank dealer Patrik Malec has told SLOVAKIA.

On February 27, the Slovak crown again reached record-breaking levels against the weakening US dollar, briefly reaching Sk21.74 per dollar, UniCredit Bank dealer Patrik Malec has told SLOVAKIA.

The crown's exchange rate against the US dollar was influenced by the Euro on February 27, which reached 1.51 USD/EUR. Against its reference currency, the euro, the Slovak crown was moving in both directions within 32.80-32.93 per euro the same day.

In the morning, the crown slightly eased, which Malec says was caused by some profit-taking by investors. This gradually weakened the Slovak currency to Sk32.93 per euro. Following the statements made by Slovak PM Robert Fico that the future conversion rate of the crown against the euro won't create inflationary pressures and will be favourable for citizens, the Slovak currency firmed to its opening levels and before the end of trading it stood at 32.80/82 SKK/EUR.

According to Malec, the Slovak currency will strengthen further in the days ahead, and perhaps more records will fall. The Slovak crown reached the current historic high against the euro - 32.68 SKK/EUR - on February 25.

Compiled by Zuzana Vilikovská from press reports

The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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