Yesterday the Czech currency opened at 29.990 against the dollar and at
32.400 against the euro. It strengthened slightly against the greenback in a
volatile trading due to development on Eurodollar markets, but stagnated
against the euro. The end of trading session saw the koruna at 29.920 and at
32.415. The Czech currency has difficulty to appreciate ahead of a debate
over the next year's budget and public financial reform. The rate USD/CZK
began at 29.920 this morning and should move in a range of 29.700 and
30.100. The currency pair EUR/CZK opened at 32.415 and should stay between
32.150 and 32.650. The balance of payment released today should have a
limited impact on rates only.
CSOB, Investment Research