Expectations of inflows of foreign financial aid to Czech Republic and its
conversion into the Czech korunas supported the Czech currency yesterday.
European Investment Bank also announced, that it was ready to grant a loan
of up to EUR 1 billion to the Czech Republic. The koruna was gaining all day
long against the euro. It firmed from the level of 30.375 to 30.270 in the
morning and touched 30.130 later. The EUR/CZK closed at 30.210. The CNB
keeps watching the situation on the market and it is supposed to intervene
if the koruna stays on its current strong levels. The koruna also
strengthened vs. the dollar on Monday due to development euro-dollar
The USD/CZK opened at 30.950 and closed at the level of 30.700.
There are no important data to be released today. The investors will wait
for current account figure due to tomorrow. We expect the EUR/CZK to move in
the range of 30.100 - 30.400 today and the USD/CZK should be curbed between
30.400 - 30.900.
open high low close today (3.9.)
EUR/CZK 30.375 30.411 30.130 30.210 30.225
USD/CZK 30.950 30.950 30.650 30.700 30.620
Stepanka Kuzilkova, Investment Research, CSOB