Yesterday the Czech currency went on depreciating due to forint turmoil and came near to the 32.500 per euro. However, verbal intervention of Hungarian government a NBH helped to stabilize the forint. We believe that it could support also the koruna, which may return to 32.00 levels.
The koruna opened at 32.385 this morning and should stay between 32.200 and 32.500 per euro. Against the American currency the koruna strengthened from 26.980 to 26.780 yesterday. It began at 26.790 this morning and should remain in a range of 26.45 and 26.95.
CSOB, Investment Research