Slovakia revalues koruna upwards

Slovakia, in consultation with the EU, has revalued the koruna, March 2007, to reflect the currency's rise following strong growth and an inflow of foreign investment, which had threatened to push the koruna beyond the 15 per cent trading band allowed under the European Exchange Rate Mechanism.

European Central Bank: Press Release, 16.3.2007: Joint communiqu¿n the Slovak koruna http://www.ecb.int/press/pr/date/2007/html/pr070316.en.html

European Central Bank: Press Release, 19.3.07: Euro central rates and compulsory intervention rates in ERM II http://www.ecb.int/press/pr/date/2007/html/pr070319.en.html

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