The Estonian kroon staged a sharp fall against its US counterpart during Monday's early trading. At about 2:40 am ET, the kroon touched a 10-day low of 12.4445 against the dollar, compared to last week's closing value of 12.337. On the downside, the Estonian currency may likely target the 12.487 level.
The Statistics Estonia announced that retail sales at constant prices declined 10% year-over-year in January, after falling 9% in December. Retail sales totaled 4.4 billion Kroons.
On a monthly basis, retail sales in retail trade enterprises dipped 21% in January. This was a usual fall following the Christmas time and end-of-year sales, the stat office said.
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