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December 24, 2017 9:00 am | FILED UNDER: business

Crown Slides Before Christmas

By ČTK

Prague (CTK) – The crown weakened on the last trading day before the Christmas holidays, losing 5 hellers to Kc25.77/EUR and 7 hellers to Kc21.77/$, according to data from the Patria Online server.

 

In the course of the day, the crown dropped all the way to Kc25.80/EUR for a while. “Part of the market evidently wanted to take profits brought by the crown’s significant firming in the last months,” said Marek Drimal of Komercni banka.

 

Bet on the Czech currency ranked among the best in 2017, he noted. Referring to statistics of Bloomberg company, Drimal added that the crown has firmed by almost 5 percent to the euro and by less than 19 percent to the US dollar.

 

“We believe that at the end of this year, the crown’s rate to the euro will be at the level of Kc25.70. Next year, we expect the crown to firm up to Kc24.70/EUR,” Drimal added.

 

Rate of Czech crown:

 

Previous close

17:00 today

Kc/EUR

25.72

25.77

Kc/USD

21.70

21.77

 

Source: Patria Online

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