The Czech currency gained vs. the euro on Friday. The EUR/CZK touched the
level of 31.510 in comparison to the initial level of 31.690. The EUR/CZK
closed at 31.620. The koruna was backed mostly by the interest of foreign
banks and also due to EUR/USD exchange rate development on the world
markets. Vis-a-vis the dollar, the koruna was curbed in the range of 28.670
- 28.800 all day long and closed at 28.715.
There will be a lack of
information on the domestic market this week. Trading activity will be also
influenced by the holiday on Thursday. We expect the EUR/CZK to move in the
range of 31.480 - 31.680 today as it opened at 31.570. Against the dollar
the koruna should remain between 28.400 - 28.800 brackets. The USD/CZK
opened at 28.540 today.
open high low close today (28.4.)
EUR/CZK 31.690 31.690 31.510 31.620 31.570
USD/CZK 28.770 28.800 28.670 28.715 28.540
Martin Kocura, Investment Research, CSOB