Slovak crown hits second record against euro

The Slovak crown reached a new all-time high on March 4, when it was traded at 32.26 SKK/EUR, thus breaking through the previous record of 32.29 SKK/EUR from earlier in the day. The crown began trading at Sk32.37/40 per euro, but soon firmed to and beyond the record level for the first time in the day. The firming is being attributed to the result of Standard & Poor's improving Slovakia's rating on March 3, with the country expected to join the Eurozone successfully as of 2009, Tatrabanka dealer Boris Somorovský told SLOVAKIA.

The Slovak crown reached a new all-time high on March 4, when it was traded at 32.26 SKK/EUR, thus breaking through the previous record of 32.29 SKK/EUR from earlier in the day. The crown began trading at Sk32.37/40 per euro, but soon firmed to and beyond the record level for the first time in the day. The firming is being attributed to the result of Standard & Poor's improving Slovakia's rating on March 3, with the country expected to join the Eurozone successfully as of 2009, Tatrabanka dealer Boris Somorovský told SLOVAKIA.

After reaching its strongest level in the morning, the crown corrected slightly to 32.33/36 SKK/EUR. However, the strong demand of foreign banks for the SK seen in the afternoon boosted the Slovak unit towards the record. The morning scenario was repeated, however, with the crown correcting moderately to be traded at 32.31/34 SKK/EUR towards the end of the trading day.

Against the US dollar, the crown closed at 21.20-21.25 SKK/USD, while against its Czech counterpart it ended trading at 1,2965/1,2995 SKK/CZK. Somorovský expects the crown to move within the range of 32.20-32.50 per euro in the next few days. Even though it may strengthen further, its temporary weakening can't be ruled out, bearing in mind the collection of profits. TASR

Compiled by Zuzana Vilikovská from press reports

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

Get daily Slovak news directly to your inbox

Top stories

Haščák of Penta detained and accused

Dozens of police officers raided Digital Park, the headquarters of the financial group.

Jaroslav Haščák

Car industry needs to jump on the latest trends

Economy minister promises extensive support for hydrogen technologies in Slovakia.

The Hydrogen Technology Research Centre (CVVT) is to be launched at the end of 2020 or beginning of 2021 in Košice to do R&D in this field.

Responsibility goes hand in hand with EU advantages, says President Čaputová

President Zuzana Čaputová spoke with Vice President of the European Commission for Values and Transparency, Věra Jourová.

President Zuzana Čaputová

Slovak economy will drop more than 6 percent this year

OECD December prognosis expects the economy to grow again next year.

National Bank of Slovakia