The Slovak crown did not move much on Wednesday. Over the whole day it oscillated between 41.82 SKK/EUR and 41.89 SKK/EUR. Slovenska Sporitelna dealer Juraj Zabadal said there is balance of offer and demand on the market. Therefore the crown only moderately firmed from 41.87/41.89 SKK/EUR to 41.83/41.86 SKK/EUR on Wednesday.

The Slovak crown remains in the range from 41.70 SKK/EUR to 42.00 SKK/EUR for the past two weeks, noted the dealer. ”I expect the crown to remain in this band in the coming days,” stated Mr. Zabadal. Only Thursday’s release of 2002 GDP growth figures, if different from market expectations, can move the Slovak currency below 41.80 SKK/EUR. The market anticipates GDP growth at around 3.8 to 3.9 percent for last year.

On the euro-dollar market the US dollar slightly strengthened towards the euro to be quoted at 1.1010 USD/EUR. Against the US currency, the crown was quoted at 38.00 SKK/USD (middle). The cross rate of the Slovak and Czech crowns was 1.3210/1.3230 SKK/CZK.