ZAGREB, Oct 20 (Hina) - The kuna exchange rate against the euro has registered a nominal increase of 2.2 percent in the first nine months of this year, and a nominal decrease of 11.5 percent against the US dollar. The trend of nominal
appreciation of the kuna against the euro, following seasonal appreciation during the summer, has continued in September as well. The average monthly kuna exchange rate has registered a nominal increase of 0.6 percent in comparison to the month before, reads the latest Croatian National Bank (HNB) Bulletin. As there were no interventions by the central bank in the foreign currency market in September, the development of the exchange rate fully reflected movements on the inter-bank foreign currency market. The value of the euro dropped from 7.68 kuna for one euro in last year to 7.51 kuna for one euro in late September this year, and in the first nine
ZAGREB, Oct 20 (Hina) - The kuna exchange rate against the euro has
registered a nominal increase of 2.2 percent in the first nine
months of this year, and a nominal decrease of 11.5 percent against
the US dollar.
The trend of nominal appreciation of the kuna against the euro,
following seasonal appreciation during the summer, has continued
in September as well. The average monthly kuna exchange rate has
registered a nominal increase of 0.6 percent in comparison to the
month before, reads the latest Croatian National Bank (HNB)
Bulletin.
As there were no interventions by the central bank in the foreign
currency market in September, the development of the exchange rate
fully reflected movements on the inter-bank foreign currency
market.
The value of the euro dropped from 7.68 kuna for one euro in last
year to 7.51 kuna for one euro in late September this year, and in
the first nine months of this year the kuna exchange rate against
the euro registered nominal appreciation of 2.2 percent.
The central bank reports the increase of foreign currency offer in
the third trimester has been affected by a successful tourist
season and a foreign currency influx resulting from the issuing of
government bonds on the Japanese capital market. A new foreign
currency influx from additional loans Croatia has sought abroad is
expected in the last trimester this year as well.
Along with the depreciation of the euro against the dollar on world
foreign currency markets, also registered in September was a
significant monthly depreciation of the average kuna exchange rate
against the dollar of 3.4 percent.
According to the Bulletin, since the beginning of this year, the
kuna has registered a nominal decrease in value of 11.5 percent
against the US dollar and a two percent decrease in relation to the
currency basket (with the US dollar accounting for 30.7 percent and
the euro for 66.2 percent). In September, the nominal effective
kuna currency rate depreciated by 0.7 percent against the month
before.
The real effective kuna exchange rate (with retail prices) in July
appreciated by 0.7 percent in relation to the month before and by
1.7 percent in relation to December last year. According to the
Bulletin, the average level of the real effective kuna exchange
rate index (with retail prices) increased by 2.8 percent in the
first seven months this year compared to the same period last year.
(hina) jn rml