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

All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.

NBS governor says bank not to intervene against strong crown.

NBS governor says bank not to intervene against strong crown. The National Bank of Slovakia (NBS) would not intervene immediately to restrain the fast appreciation of the crown exchange rate vis-à-vis the euro, NBS governor Ivan Sramko declared. He explained that historical experience so far showed that these trends do not persist for a protracted period and thus no conclusions could be drawn from them. In addition, the governor pointed out that the growth rate of the exports has remained quite healthy and still has not suffered from the strengthening of the local currency. Accordingly, the central bank respected the dynamics of the crown exchange rate for the time being but Sramko emphasized that it was ready to act in case the circumstances required that. This week, the SKK /EUR exchange rate reached a new all-time record high of 35.5, which represents a 7.6% firming over the central ERM II parity. On the other hand, general expectations are that the NBS would have to raise the key interest rates in order to fight off demand-pull inflation but this step would only add further to the appreciating pressures to the crown.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree