The Czech currency with other East European currencies began strengthening
at yesterday's trading with the dollar. It opened at 26.780, but the trend
changed before noon and the koruna was weakening up to 26.750. At the end of
yesterday's trading session it erased part of its losses and closed at
Today the exchange rate USD/CZK started at 26.990 and should remain
between 26.60 and 27.30. The koruna lost against the common currency on
Monday. The rate EUR/CZK opened at 31.330 in the morning and slipped up to
31.410 in the afternoon. Mr. J. Frait from CNB supported the slip by
declaration that CNB would prevent the Czech currency from strengthening.
Today the currency pair EUR/CZK began at 31.430 and the rate might move in
the range of 31.20 and 31.80. Weak retail sales figures for March could have
little impact on the rate development.
Zdenek Safka, Investment Research, CSOB