In trading on Wednesday the Slovak currency weakened 12 hallers but by the evening it returned to its initial position. The SKK opened at 41.765/41.795 SKK/EUR and along with other currencies in the region, it depreciated to 41.90/41.92 SKK/EUR. „The Czech crown, Hungarian forint and Polish zloty weakened too,“ said CSOB bank dealer Richard Brza. He says market liquidity was high and large volume packages were traded.

From a medium-term viewpoint, the dealer expects appreciation of the crown. The market sees a great deal of foreign traders with no open long positions, only operating with short-term capital. Mr. Brza expects that at the level of 41.50 SKK/EUR investors will begin profit taking, and this would not allow it to get over this level. On the other hand, the SKK should not weaken above 42.0 SKK/EUR as this level is interesting for sellers.

Against the US dollar, the crown was quoted at 38.46/38.50 SKK/USD with the US dollar at 1.0855 USD/EUR. The cross rate of the Slovak and Czech crowns was 1.313/1.315 SKK/CZK on Wednesday.