The koruna firmed against the dollar yesterday. The USD/CZK broke the level
of 33.000 during trading and closed at 32.880. The koruna gained as the
dollar weakened vs. the euro. Against the euro the koruna remained in the
narrow range of 30.480 - 30.610 and closed at 30.550. We expect the koruna
to stay calm vs. the euro and should move in the range of 30.400 - 30.650.
The USD/CZK may be influenced by euro-dollar market and should stay in the
range of 32.850 - 33.400.
open high low close today (29.5.)
EUR/CZK 30,570 30,610 30,480 30,555 30,570
USD/CZK 33,180 33,180 32,880 32,880 32,900
Martin Kocura, CSOB Investment Research