22. May 2002 at 10:01

Crown continues to weaken

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The Slovak crown fell to its weakest level this year against the euro, its reference currency, as investor sell-offs of the currency following warnings it was overvalued booted the crown over 43.3 to the euro.

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Dealers also said the movement was due to low liquidity on the market, to the coming elections and the fact the government appeared not to be reacting to fears of a substantial fiscal deficit overshoot.

Compiled by Tom Nicholson from press reports.
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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