On Friday the Czech koruna was supported by the Czech national bank, which decided to dissolve part of its yields from FX reserves. Through this act the CNB opened the possibility for strengthening the koruna. It seems that the strong Czech currency does not discomfort and can help to keep inflation under control. Even the increase of industry productivity by 8-10% shows that the koruna might appreciate without threatening economic development. Today the rate EUR/CZK began at 32.415 and should stay between 32.30 and 32.55. It opened at 26.955 against the dollar and should fluctuate in the range of 26.75 and 27.25.
ČSOB - Investment research