London Banks Continue Weakening Slovak Crown
11. februára 2003

Available at 41.94/42.0 SKK/EUR in the morning, the Slovak crown moved above 42.00 SKK/EUR for the rest of the day. Foreign-currency purchases by London banks launched stop loss instructions of local banks and the crown twice strove to break through 42.0 SKK/EUR, Tatra Banka dealer Boris Somorovsky informed SITA. „The exchange rate briefly even got to 42.26 SKK/EUR to return to 42.12/42.18 SKK/EUR at the end of trading,“ he stated.

Mr. Somorovsky sees 42.0 SKK/EUR as an important resistance level. „If the crown weakens above 42.0 SKK/EUR, it could even lose 50-60 hallers,“ said Mr. Somorovsky. Pressure on the weakening crown will probably continue, however, future development will depend on the upcoming cash flow. „Appreciation of the currency, predicted by experts, will probably be delayed,“ he added. Nevertheless, if foreign currency demand does not continue, the crown could be quoted between 41.95 and 42.25 SKK/EUR.

Against the US dollar, the crown was at 39.12/39.18 SKK/USD at the beginning of the week. The US dollar appreciated against the euro to 1.0775 USD/EUR. The cross exchange rate of the Slovak and Czech crowns was 1.326/1.3285 SKK/CZK.

Tento projekt je podporený z Európskeho sociálneho fondu


22. 1. 2021

USD 1,216 0,000
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