The koruna strengthened against the euro

The Czech currency broke the level of 32.000 in the beginning of yesterday's trading. Low activity prevailed on the market and the koruna rose as the situation on the other Central European markets calmed. The EUR/CZK opened at 32.050 and reached the level of 31.920 later. The koruna slightly corrected its gains in the afternoon and the EUR/CZK closed at 31.960. Vis-a-vis the dollar, the koruna remained calm during morning session and was curbed between 27.750 - 27.850. Following the development on the eurodollar markets the koruna rose vs. the dollar in the afternoon to 27.710. The USD/CZK closed at 27.860. There will be a lack of impulses on the market again today. The EUR/CZK should move in the range of 31.900 - 32.100 today and opened at 31.930. The USD/CZK initiated at 27.910 and should not leave 27.650 - 28.050 brackets.

CSOB