On Tuesday the Czech currency opened at 31.840 against the euro and at 27.390 per the dollar. The koruna was depreciating against the euro and the dollar due to profit taking by foreign investors and due to political uncertainty. The rate EUR/CZK closed at 31.930, the USD/CZK at 27.455. This morning the koruna opened at 31.910 per the euro and should stay in a range of 31.70 and 32.10. The rate USD/CZK began at 27.310 and should move between 27.10 and 27.50. The state budget released today should not influence rates. However, positive values of European PMI should weaken the koruna.
CSOB, Investment Research