Dollar strengthens, but crown holds firm

Published: 08.03.2023 Related countries:  Israel Israel

Dollar strengthens, but crown holds firm

Despite the recent strengthening of the U.S. dollar, the Czech crown has remained relatively unaffected, despite a small depreciation. At the beginning of Febuary, the crown traded at CZK 21.6: USD 1, and has since weakened to CZK 22.33. It is also still at near all-time highs against the euro. Financial site Roklen24.cz writes of a new term coined by investors internationally – “higher for longer” – which assumes that interest rates will remain elevated for longer than expected; until inflation subsides. The high U.S. interest rates may prompt an inflow of foreign capital into the country, which could further strength the dollar.

Source: Expat.cz

Written by team CzechTrade Izrael


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