Estonian kroon rises to 1-week high against US dollar

The Estonian kroon rose to a 1-week high of 10.5070 against the US dollar by about 10:15 pm ET Wednesday. This may be compared to Wednesday's New York session closing value of 10.6240. Currently, the pair is quoted at 10.56.

Statistics Estonia said in its report that the Producer Price Index, or PPI rose 7.8% year-on-year in July, marking a faster pace than the 7.5% rise recorded in June. According to the statistical office, producer price inflation was higher due to the rise in the prices of energy supply. On a monthly basis, producer prices increased 0.8% in July, quicker than the 0.4% rise seen in the previous month.