Economy, Currency and Banking

The monetary unit of Slovakia is the Slovak koruna; it was introduced in February 1993, when Slovakia and the Czech Republic began using separate currencies. In 2000 an average of 46.04 koruny were equal to U.S.$1. Slovakia’s central bank is the National Bank of Slovakia, founded in 1993 with headquarters in Bratislava. The central bank is responsible for setting monetary policy, issuing currency, and supervising the activities of other banks. More than ten new commercial banks also have been established since 1990. A stock exchange is located in Bratislava.