Koruna hits new record against US dollar

THE SLOVAK koruna strengthened against its reference currency, the euro, by 11 haliers on November 27 and closed the day at 35.70 SKK/EUR. At the same time the crown set a new record strength against the US dollar of 27.10 SKK/USD.

According to UniBanka dealer Tomáš Kálavský, after the moderate easing of Central and Eastern European currencies at the end of last week, the region experienced a wave of strengthening in which "the firming of the Polish zloty and the Hungarian forint also pushed the koruna to a stronger position."

The reason why the koruna performed so well against the US dollar was that the American currency weakened significanly against the euro on Friday and Monday morning, when it reached a 2.5-year low against the euro.