USD Hits Record High against BGN*

From Novinite.com (Sofia News Agency)

May 24, 2001

The US dollar hit a six months' high against the Bulgarian lev (BGN) in the domestic currency market.

On the eve of the four non-office days (between May 24 and May 28) dedicated to the Sts Cyril and Methodius, who created the Bulgarian alphabet, the Day of Bulgarian Culture and Slavic script, the fixing was BGN 2.27 for USD 1.

Appreciation of the USD in the Bulgarian market is hinged to the depreciation of the EUR in the international financial markets. Local dealers believe that USD will be gaining in the next couple of months.

*As Novinite.com (Sofia News Agency) became 10 years old on Friday, March 11, 2011, we are reprinting selected articles from our archives that we published on the respective day exactly 10 years ago.

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