CET ON-LINE 15-MAY-96
Wednesday, 15 May 1996
Volume 1, Issue 349
The National Bank of Slovakia (NBS) is poised to continue using
the fluctuation band in order to depreciate the crown, after
allowing its value to drop by about three percent against the
dollar since mid-March.
The NBS fixes the crown by determining the midpoint against a
60 percent mark/40 percent dollar currency basket, currently
fixing the rate within plus or minus 3 percent of the
midpoint.
NBS has declined to give a specific reason for it's moves, nor
would it state how far it would continue to allow the rate to
ease, though NBS did reveale it is adhering to its monetary
program.
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