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Arhar on 5th Anniversary of Slovene Tolar

Ljubljana, 8 October - ANNIVERSARY/TOLAR/ARHAR
In five years since it had introduced the Slovene currency tolar and begun to operate as the independent central bank, the Bank of Slovenia led a monetary policy aimed mainly at cutting inflation. It began to function independently on 8 October 1991 when the monthly inflation rate was 22 percent. In these five years the Bank of Slovenia was trying to carry out its mandate in the manner corresponding to the fact that the Slovene economy became more open as it had been in the past when domestic market was much bigger, Governor of the Slovene central bank France Arhar told the Slovene News Agency (STA) on the fifth anniversary of Slovenia's monetary independence. As an important landmark in the five-year period Arhar quoted last year's declaration of external convertibility of tolar according to the principles of the International Monetary Fund.

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