January 21, 2015 / 1:52 PM / 5 years ago

Swiss franc loan conversion could cost almost 500 million euros: central bank

ZAGREB (Reuters) - Converting loans denominated in Swiss francs into Croatian kuna, at a fixed rate of 6.39 proposed by the government, would incur a cost of 3.8 billion kuna (493 million euros), central bank governor Boris Vujcic said on Wednesday.

The Croatian government has proposed fixing the rate of the Swiss franc against the local kuna currency to aid borrowers who took loans denominated in the franc, and also says it will consider converting the loans into kuna.

Vujcic told reporters that converting the loans into euro-indexed loans was another option.

Reporting by Igor Ilic; Writing by Matt Robinson

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