ZAGREB, May 17 (Hina) - The German mark has dropped by 0.08 percent in relation to the Croatian kuna, amounting to 3.748803 kuna according to the Croatian National Bank (HNB) rate of Thursday. All other currencies have also decreased
in value as against yesterday, except the British pound which increase by 0.22 percent, to 11.892978 kuna. The kuna has gained four percent over the last month. The central bank says this is the result of positive trends in the economy, namely revived economic activities and a higher demand for the domestic currency, the beginning of the summer tourist season, and higher credits. The central bank reminds it does not determine the currency rate, which is formed on the foreign currency market. The HNB Council yesterday adopted several intervention measures, for instance a decision to reduce compulsory bank reserves from 22.5 to 22 percent, whereby a higher kuna circulation wo
ZAGREB, May 17 (Hina) - The German mark has dropped by 0.08 percent
in relation to the Croatian kuna, amounting to 3.748803 kuna
according to the Croatian National Bank (HNB) rate of Thursday.
All other currencies have also decreased in value as against
yesterday, except the British pound which increase by 0.22 percent,
to 11.892978 kuna.
The kuna has gained four percent over the last month. The central
bank says this is the result of positive trends in the economy,
namely revived economic activities and a higher demand for the
domestic currency, the beginning of the summer tourist season, and
higher credits.
The central bank reminds it does not determine the currency rate,
which is formed on the foreign currency market. The HNB Council
yesterday adopted several intervention measures, for instance a
decision to reduce compulsory bank reserves from 22.5 to 22
percent, whereby a higher kuna circulation would halt its growth,
thereby averting the negative effects of an increase in its value,
especially during the tourist season.
(hina) ha sb