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Crown takes one day to beat historical high

During trading on May 15 the Slovak crown set another record against the euro, Sk31.63/EUR, nudging past its historical high, 31.633 SKK/EUR, set just the day before, OTP Banka Slovensko dealer Eduard Pracko told the TASR newswire.

During trading on May 15 the Slovak crown set another record against the euro, Sk31.63/EUR, nudging past its historical high, 31.633 SKK/EUR, set just the day before, OTP Banka Slovensko dealer Eduard Pracko told the TASR newswire.

The Slovak currency began the trading day at 31.660/31.690 SKK/EUR, said Pracko. Positive statistics on the growth of the economy, employment, and inflation released in the morning by the Slovak Statistics Office seemed to have no effect. In fact, the currency mostly weakened, reaching Sk31.72/EUR at one point, the newswire wrote.

However, after Prime Minister Robert Fico once again emphasised the will for a strong conversion rate against the euro, the crown shortly after noon pushed to its new historical high. It floated at levels slightly weaker than that for the rest of the afternoon and finished at 31.645/31.655 SKK/EUR.

Against the US dollar, the Slovak currency closed trading at 20.480/20.500 SKK/USD, and against the Czech currency at 1.263/1.264 SKK/CZK. Indications supporting a stronger conversion rate against the euro, which will be officially set on July 8, have been moving the Slovak currency for more than week to new record-breaking levels, said the dealer.

According to Pracko, the koruna might firm to Sk31.50/EUR in the days ahead, or possibly even as high as Sk31/EUR. 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.

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