AVERAGE EXCHANGE RATE FOR GERMAN MARK IN APRIL 3.88467 KUNA

ZAGREB, June 1 (Hina) - Following a depreciation trend in the average monthly value of the Croatian currency kuna, which started in September last year, in the past two and a half months the kuna has been very stable, with the exchange rate between 3.88 and 3.89 for one German mark. The exchange rate of the German mark in April amounted to about 3.88467 kuna, which, compared to the month before, was a 0.02 per cent decrease. This trend of mild appreciation of the kuna continued in May as well, so that the exchange rate of the German mark was 3.88197 kuna in the first half of May, the Croatian Chamber of Economy's sector for macroeconomic analysis reported. On the annual level, the average value of the German mark in relation to the kuna was in April this year 9.17 per cent higher than in the same month last year. Between early April and mid-May this year, the value of European Union currencies decreased by 0.22 per cent in relation to the kuna, as did another six currencies, including the Slovene tolar (1.60 per cent). According to the Croatian National Bank (HNB) exchange rate, in the same period, the Australian dollar registered the highest increase in value (6.40 per cent), followed by the Canadian dollar (3.91 per cent). (hina) jn rml