Slovak Koruna's Euro-Entry Level May Be Raised by 5%, Morgan Stanley Says

(Bloomberg) -- Slovakia's currency may extend gains against the euro in the coming year, forcing the country to lift the agreed level at which it will join the common European currency by about 5 percent, according to Morgan Stanley.

The koruna has risen versus 15 of the 16 major currencies tracked by Bloomberg in the past 12 months, climbing 11 percent versus the euro, as economic growth has surged. The gains will continue, forcing the country to raise the level at which it will join the euro in 2009, Pasquale Diana, Morgan Stanley's Central Europe economist wrote in a note to clients.


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