2008.12.2202:57:00UTC+00Estonian Kroon Strengthens Against US Dollar

The Estonian kroon strengthened against its US counterpart during Monday's early European deals. At about 2:50 am ET, the Estonian currency reached 11.0952 against the dollar, compared to Friday's closing value of 11.2170. On the upside, the kroon may likely target the 10.648 level.

The Estonian kroon is pegged to the European single currency since January 1, 1999. The reference rate for the euro-kroon pair is at 15.6466.

The Statistics Estonia announced today that the producer price index, or PPI rose 6.2% year-over-year in November, slightly slower than the 6.3% recorded in the previous month. On a monthly basis, the PPI remained unchanged in November, after rising 0.8% in October. During the period, manufacturing producer prices dipped 0.2%.

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