Spectator on facebook

Spectator on facebook

Crown breaks Sk32/EUR threshold

The Slovak crown on May 7 hit yet another new record of 32.055/EUR as a result of the European Commission's approval of Slovakia's bid to adopt the euro as of January 2009.

The Slovak crown on May 7 hit yet another new record of 32.055/EUR as a result of the European Commission's approval of Slovakia's bid to adopt the euro as of January 2009.

But UniCredit Bank dealer Patrik Malec told the TASR newswire that the European Central Bank's "considerable concerns" over whether Slovakia can keep inflation under control concerned some investors.

Nevertheless, the EC's recommendation boosted the crown to its strongest-ever position. It is now trading at a slightly weaker level of 32.070/32.080 SKK/EUR. According to Malec, the crown could strengthen yet further and may well break through the Sk32/EUR threshold. The market is now expected to move according to speculation over the final crown-euro changeover rate, which should be announced at the beginning of July. On the afternoon of May 7, the Slovak crown continued to set new records, breaking through the Sk32/EUR threshold to reach 31.985 per euro. 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.

The processing of personal data is subject to our Privacy Policy and the Cookie Policy. Before submitting your e-mail address, please make sure to acquaint yourself with these documents.

Top stories

Revitalised industrial building offers work, entertainment and housing

Mlynica is an excellent example of successful conversion of unused industrial building.

Mlynica

Collector Eugen Bárkány did not distinguish between high and low art

The Jewish Community Museum pays a tribute to its initiator.

Eugen Bárkány painting in old Bratislava.

How do you feel about your city?

Project gathering the feelings of citizens helps define the areas people like to go to and the perceived no-go zones.

Illustrative Stock Photo

Slovak government will provide special treatment for Volkswagen Slovakia

It will help with recruiting new employees, including from abroad.

PM Peter Pellegrini and Ralf Sacht, chairman of the Board of Management at Volkswagen Slovakia, from right