Trading on the Slovak foreign currency market followed the same scenario every day last week. The Slovak crown was traded around 42.0 SKK/EUR while London banks were selling the Slovak currency more actively at the level of 41.900 SKK/EUR. Thus they prevented it from further firming. On the opposite side, at 42.100 – 42.200 SKK/EUR, investors were buying the local currency. The Slovak crown posted the weakest level last week on Monday when it was at 42.260 SKK/EUR for a moment. The strongest levels were about 41.900 SKK/EUR. On Friday it closed at 41.920/980 SKK/EUR.

Dealers expect the crown to range between 41.800 and 42.100 SKK/EUR in the upcoming days. Foreign players will follow news on developments in the Middle East and a potential war in Iraq. Nonresidents are not interested in opening long positions in currencies of transitive economies.

Against the US dollar, the crown was quoted above 39 SKK/USD during the first half of the week. On Friday it was at 38.840/910 SKK/USD. The cross rate of the Slovak and Czech crowns was 1.333/1.337 SKK/CZK.