On Monday the Czech currency began at 32.030 against the euro and at 27.640 against the dollar. The rate EUR/CZK ended day near unchanged from its opening at 32,010 after low trading volumes. Against the dollar the koruna fell back following euro-dollar markets and closed at 27.915.
It opened at 28.000 this morning and should stay between 27.75 and 28.25. The rate EUR/CZK opened at 32.070 on Tuesday and should remain in a range of 31.95 and 32.25. We do not expect any important fundamental impulse from our domestic scene. Koruna rates should follow rather Eurodollar market development.
CSOB, Investment Research