Czech crown will strengthen and may become the leader of regional currencies

Published: 07.09.2017 Related countries:  U.S.A. U.S.A.

Czech currency will strengthen. It might be the most strong among Central European currencies

Czech crown will strengthen the most among Central European currencies a year. Analysts predict higher rates and a rising economy. Since the April the Czech crowns has appreciated by around 3,5 % against the euro. The Czech National Bank has been raising interest rates since summer. The crown should become the leader of regional currencies within a year. The engine for further crown profits should bet expectation of further tightening monetary policy and the robust growth of the Czech economy. Since the end of April, the koruna has strengthened by 3.5 percent against the euro, with investors speculating ahead of the sharp rise in the Czech currency after removing the 27 crown euro barrier, which could not be reinforced. The extent of strengthening the crown after the release of the exchange rate disappointed some investors when they could not quickly pick profits by closing positions on the surplus market without always causing a sharp weakening of the Czech currency.

Source:

https://byznys.ihned.cz/c1-65872230-koruna-do-roka-posili-nejvic-mezi-regionalnimi-menami-predpovidaji-analytici-pomohou-k-tomu-urokove-sazby

 

Published by the team of CzechTrade foreign office in Chicago