Dollar under 40 crowns

The US dollar fell to below 40 Slovak crowns on fears of a war with Iraq and news of North Korea's nuclear programme, as well as continuing confidence in the Slovak currency following September elections that returned a centre-right government.The level marks the strongest performance of the Slovak crown against the dollar in the past three years, and is over 25 per cent better than the 52 crowns to the dollar rate seen at times in 2000.Analysts expect the local currency to continue to appreciate during 2003.