Last week, trading on the FOREX market took place in a typical holiday atmosphere. The exchange rate of the Slovak crown against its referential currency, the euro oscillated within the band from 41.470 SKK/EUR to 41.670 SKK/EUR. The highest exchange rate volatility was recorded on Tuesday when the local currency fell 15 hallers, influenced by a major foreign exchange purchase by a local bank. The crown closed the week at 41.610/660 SKK/EUR.

The Slovak currency began the week at 41.500 SKK/EUR while later in the day it moderately strengthened to 41.470/520 SKK/EUR, which is the strongest level achieved last week. However, on Tuesday the crown weakened 15 hallers against the euro when a local bank depreciated it to 41.640/670 SKK/EUR via a massive foreign exchange purchase. From Wednesday to Friday trading was calm on the FOREX market, with just small number of trades carried out, predominantly by foreign players. Dealers estimate the Slovak crown would move in the band from 41.400 SKK/EUR to 41.750 SKK/EUR.

On the euro-dollar market the US dollar was gradually firming towards the single European currency to finally get to 1.1297/1.1299 USD/EUR on Friday. Thus the Slovak crown weakened against the dollar to 36.810/860 SKK/USD. After a moderate weakening of the Czech currency, the cross rate of the Czech and Slovak crowns moved to 1.3090/1.3105 SKK/CZK.