Jittery situation around the Hungarian FX market has slightly calmed down yesterday, however, didn't affect significantly the EUR/CZK exchange rate. The koruna firstly moved to the level of 32.140 for a short while and quickly returned back to 32.535 later. The Czech currency could have been influenced also by the sale of a 27% stake in Cesky Telecom by TelSource.
The EUR/CZK should move in the range of 32.320 - 32.620 today, on the other hand, we can also see some strengthening of the koruna to 32.200 level as the impact of the stake-selling in Cesky Telecom will fade away. The EUR/CZK opened at 32.485. Vis-a-vis the dollar, the koruna initiated at 26.875 and should not leave 26.700 - 27.100 brackets.
open high low close today (5.12.)
EUR/CZK 32.430 32.535 32.140 32.435 32.485
USD/CZK 26.830 26.950 26.630 26.900 26.875
CSOB, Investment Research