The koruna was influenced by the weak forint again and touched the level of 32.500 against the euro. The current account deficit in 3Q 2003, due today, should not be surprising, as we have already known its development on monthly basis. We also don't expect any impact of today's ECB meeting on the koruna. The EUR/CZK exchange rate should be curbed between 32.200 - 32.500 today, as it opened at 32.435. Vis-a-vis the dollar, the koruna initiated at 26.845and should not leave 26.800 - 27.200 brackets.
open high low close today (4.12.)
EUR/CZK 32.385 32.505 32.290 32.440 32.435
USD/CZK 26.790 26.890 26.750 26.820 26.845
CSOB, Investment Research