Forex - Estonian Kroon Off 9-day High Against Dollar [USD/EEK]
RTT News
May 5, 2008
The Estonian kroon lost ground versus the US dollar after hitting a 9-day high of 9.8720 at about 9:05 pm ET Sunday. The kroon reached a low of 10.1630 per dollar in about a couple hours. Since then, the pair has been showing infirmity in direction and is currently trading at 10.12, compared to last week's close of 10.1571.
The Statistics Estonia reported today that Estonia's seasonally adjusted industrial production declined 5.3% month-on-month in March. On an annual basis, the statistical office said that the working day adjusted production index fell 4.9%, while the unadjusted index plunged 10.7%.
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