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Banks to end free exchange of Slovak crown coins on June 30

Exchanging Slovak crown coins for euros in commercial banks will cease at the end of June this year but the National Bank of Slovakia (NBS) stressed that the exchange of Sk coins and banknotes for euro will be free of charge until then, the SITA newswire wrote, though banks can ask customers to sort their cash according to nominal value.

Exchanging Slovak crown coins for euros in commercial banks will cease at the end of June this year but the National Bank of Slovakia (NBS) stressed that the exchange of Sk coins and banknotes for euro will be free of charge until then, the SITA newswire wrote, though banks can ask customers to sort their cash according to nominal value.

“As of June 30, 2009 the obligation of all banks to exchange Slovak crown coins for euros will end. After this date, the exchange of coins for euros will be possible only in the NBS, which will exchange Sk coins until the end of 2013,” the NBS spokeswoman Jana Kováčová informed the SITA newswire.

To date, the NBS has withdrawn more than 96 percent of Slovak crowns from the overall amount that was in circulation at the end of 2007. However, more than Sk 6.1 billion remains "in circulation" according to the NBS. There are still more than 408 million coins in circulation, most of which are 50 heller and 1 crown coins. As for banknotes, there are still around 23 million Slovak crown banknotes in circulation, most of which are 20 and 100 crown banknotes, SITA wrote. SITA

Compiled by Zuzana Vilikovská from press reports
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