End of the hard currency market
Ljubljana, 5 December - The Ljubljana Stock Exchange made public that the hard currency market, opened one month ago and trading with recorded rights to foreign currencies, was closed today. Its functioning proved that it was operating under unfavorable technical conditions and that the time for its normal operation was too short. There are only 48 hours involved during which the export enterprises sell 70% of their hard currency earnings at the market price. From now on the trading will be organized by the Society of Slovenian Brokers and by the stock exchange house of Nika from Ljubljana. The informal trading between enterprises will start each day at 1 p.m. On the last session of the Stock Exchange the trading with recorded rights to foreign currencies reached 380.000 DEM. US Dollar was available for 72.3 Slovenian Tolars per Dollar, and was sold for 30 Stotins less. The German Mark was available for 45.5 Tolars and was sold for 43.8 Tolars. The Austrian Schilling was available for 6.3 Tolars, the Italian Liras were not on sale today.