Today, the Czech currency reached its strongest level against the euro in more than two years. As of 17:00, it had strengthened by four cents against the euro against the previous conclusion to 24,25 Kč/EUR. She was last on a lower course on September 5, 2023. The koruna also improved against the dollar today, by six cents to 20.60 Kč/USD. This is according to data on the Patria Online server.
The koruna has been gradually strengthening against the euro and the dollar this year since the beginning of the year. The highest rates this year were about mid-January, when the exchange rate to the euro was 25.28 Kč/EUR and the exchange rate to the dollar was 24.59 Kč/USD. To the euro, the Czech currency has already strengthened by more than one crown since January, and against the dollar by almost four crowns. In July, the koruna reached the U.S. currency for the first time in four years below the 21-kronor dollar mark. Last week, the exchange rate fell to 20.51 Kč/USD, so the koruna was the strongest against the dollar since April 2018.
“The Czech koruna still benefits from positive sentiment in the financial markets and from its interest rate differential against the euro, which still plays into the hands of traders with the Czech koruna,” said Jaroslav Tupý, an analyst at Purple Trading.
“And since both the CNB (the Czech National Bank) and the ECB (the European Central Bank) now favor hawkish policy and will not lower their interest rates for some time yet, this favorable interest rate differential will continue to help the koruna to hold on to its stronger values,” he added.
Czech currency exchange rate:
| Previous close | Today | |
| CZK/EUR | 24:29 | 24,25 |
| CZK/USD | 20,66 | 20.60 |
The Prague Stock Exchange started the trading week up, boosted by ČEZ and Moneta
The Prague Stock Exchange started the trading week with growth. The PX index today added 0.42 percent to 2303.59 points. He was helped by shares of the energy group ČEZ, from the banking sector prospered Moneta Money Bank. This is according to the data of the stock exchange website.
“The stock market followed up on the successful conclusion of the previous week and also reported gains today. The last time it ended a trading day above the 2300-point mark was on August 21,” commented Wood & Company broker Vladimír Vávra. After a significant Friday activity of investors, the volume of traded shares decreased to a slightly below average 560 million CZK, according to analysts.
The most involved in trading was ČEZ securities, which gained 1.19 percent to 1275 Kč. Moneta also did well, adding 1.76 percent to 162.20 Kč and Komerční banka, which improved by 0.58 percent to 1040 Kč. Doosan Škoda Power added 2.56 percent to 440 crowns.
Erste Group Bank failed, weakening by 0.79 percent and trading at 2012 Kč. The insurance company VIG took 0.36 percent to 1108 Kč. The Colt CZ gun company lost 0.13 percent to 777 Kč and the manufacturer of drones Primoco 2.79 percent to 870 Kč. The securities of beverage maker Kofola declined 1.54 percent to 512 Kč. The Philip Morris tobacco company remained at zero.
