The koruna was falling gradually from 29.750 in the morning to 30.100 on
Friday. Hidden interventions of CNB are apparently behind the koruna's
weakening. The koruna fell also versus the dollar from 29.280 to 29.700 due
to development of the EUR/CZK.
Tomorrow the foreign trade figure will be
released and except of it the Bank board meeting will take place to discuss
monetary policy on Thursday. We anticipate that the present press on the
koruna will continue at least until the Thursday, we expect the koruna to
move in range of 29.900 - 30.300 today. The EUR/CZK opened at 30.110 and the
USD/CZK at 29.800 this morning.
open max min cls open 22/7
EUR/CZK 29.750 30.100 29.730 30.100 30.110
USD/CZK 29.280 29.700 29.280 29.700 29.800
Stepanka Kuzilkova, Investment Research, CSOB