Slovak crown at 1-mo peak on cbanker remarks, region

09.10.2007 | , Reuters
Zpravodajství ČTK


perex-img Zdroj: Finance.cz

The Slovak crown firmed to a one-month high against the euro on Tuesday as the central bank (NBS) calmed investors' euro adoption worries,...

...adding to 
brighter regional sentiment, dealers said. 
    The crown strengthened as far as 33.545 against the euro 
, its firmest level since Sept. 13, when news that 
Slovakia might have to recalculate its fiscal deficits broke 
out. It stood at 33.705 late on Monday. 
    "The sentiment is still optimistic, the crown might look 
toward the 33.300 per euro level," said a dealer with a foreign 
bank in Bratislava. "(NBS governor Ivan) Sramko's comments were 
also supportive." 
    Sramko told a conference on Tuesday an expected revision by 
Eurostat of Slovak budget figures will have no major negative 
impact on the country's chances of meeting criteria for joining 
the euro zone in 2009. 
    The currency had been volatile in the past weeks, hitting a 
three-month low versus the euro last week, due to fears that the 
budget recalculation could boost the fiscal deficit beyond the 
euro adoption threshold of 3.0 percent of GDP this year. 
    The Eurostat, the European Union's statistics office, is 
expected to comment on Slovakia's fiscal deficit parameters on 
October 22. 
----------------MARKET SNAPSHOT 1430 GMT ---------------------- 
crown/euro    33.555 vs 33.705 on Monday (+0.45 pct) 
crown/dollar     23.850 vs 23.966 (+0.49 pct) 
5-yr govt bond due March 2012  at 4.650/4.449 pct 
10-yr govt bond due April 2017  at 4.825/4.626 pct 
--------------------------------------------------------------- 
 

[BRATISLAVA/Reuters/Finance.cz]

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