Change font size:   

 
Abigail Hofman:

Abigail Hofman:

I wonder if ______ is an extremely optimistic person or in a cocoon of senior management denial

Cash management poll 2008:

Cash management poll 2008:

Results now live

weeklyFiXLiquid real estate
Skip Navigation LinksHome :: Markets/asset classes :: Foreign exchange :: Crown conversion rate allegedly to be set at ERM II central parity level.

Friday, July 4, 2008

Crown conversion rate allegedly to be set at ERM II central parity level.





Crown conversion rate allegedly to be set at ERM II central parity level. The conversion rate of the crown against the euro upon Slovakia ’s entry in the eurozone from the beginning of next year would likely be set at the level of the ERM II central parity, according to unofficial information cited by Bloomberg . On May 29, the ERM II central parity was revalued for a second time by 17.6% to a SKK/EUR exchange rate of 30.126. PM Robert Fico, however, has repeatedly called for setting the conversion rate at an even higher level for the crown, arguing that it would be most beneficial for the people’s purchasing power and would also serve to tame inflationary pressures through import prices. Historically, the conversion rate in the past has been always set at the level of the respective ERM II central parity. The information on the possible EC proposal remains strictly unofficial as the setting of the conversion rate is scheduled to be decided on the EU finance ministers meeting on Jul 8 and preliminary information is avoided as not to trigger financial market speculation.







They’re like the Borg, once you get absorbed in them... that’s it. You have hexagons in the blood for life

A DCM banker in Hong Kong assesses the corporate culture at HSBC

  1. US treasury market reaches breaking point

  2. Top 10 financial definitions that are funnier since the credit crunch

  3. Top 10 reasons to tell your boss you deserve a bonus this year

  4. Nomura’s great leap forward: Will Lehman takeover help fulfil its global ambitions?

  5. Eksportfinans turns to government for funding

Latest Issue

December 2008
Ruromoney Jobs Post a job

Home | Mobile site | Contact Us | Debt markets | Equities | Foreign exchange | Banking | Alternative Investments | Regions and Emerging markets | Polls & Awards | Structured credit | Back issues | Euromoney store | Useful links and Related events | Site Map

The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms and Conditions, Privacy Policy before using the site.

All material subject to strictly enforced copyright laws. © 2008 Euromoney Institutional Investor PLC.