The EUR/CZK didn't mind Friday's inflation figures and wasn't disturbed by
passing of the state budget for 2003 in total amount of CZK111.3 bn by the
Chamber of Deputies. The koruna opened at the level of 30.885 and was moving
in the range of 30.880 - 30.945 during the day. It closed at 30.870.
Against
the dollar, the koruna remained in the range of 30.490 - 30.660, however,
the Czech currency firmed later in the day and closed at 30.490. Industrial
output figure is released today, we don't expect any significant impact on
the koruna. The EUR/CZK should move between 30.750 - 31.050, the koruna
could tend to weakend vs. the euro. The USD/CZK should be curbed between
30.250 - 30.750and will follow euro-dollar markets. The EUR/CZK opened at
30.880 and the USD/CZK at 30.500 today. Consumer prices added a paltry 0.6%
year-on-year in October and in the month-on-month comparison they were down
by 0.3%.
open high low close today(11.11)
EUR/CZK 30.885 30.945 30.800 30.870 30.880
USD/CZK 30.630 30.660 30.490 30.490 30.500
Stepanka Kuzilkova, Investment Research, CSOB