Slovakia joins ERM-II

Slovakia has joined the Exchange Rate Mechanism 2 (ERM-II), the Hospodarske noviny daily wrote.

Slovakia's joining of the ERM II was intentionally sudden and unannounced in order that forex market players not have time to prepare speculative deals, the report said. Slovakia was originally supposed to have become a member of the ERM II in June 2006.

"After agreement between all the parties involved, the central exchange rate at which the crown is pegged to the euro was set at SKK 38.4550 to on