The Czech currency is now the strongest against the euro in over 15 years and the best versus the dollar in more than a year.
On Wednesday, it gained 15 haléř against the euro, reaching 23.34 CZK / EUR, the lowest rate since the end of July 2008.
The crown gained 27 haléř against the dollar, reaching 21.26 CZK / USD. It last traded higher versus the US dollar in February of last year. This is based on data from the Patria Online server.
Since last autumn, when the rate to the euro was about 24.70 CZK / EUR and the rate to the dollar was much higher, the crown has been progressively rising against both major international currencies.
The Czech crown achieved its highest level versus the euro since the summer of 2008 in February of this year. The Czech currency suffered a short-term decline versus the euro and the dollar in the first part of March this year, but it has since recovered.
The Czech Labour Office published unemployment data today, according to which the share of people without jobs in the Czech Republic fell by two tenths of a percentage point to 3.7% in March compared to February. Before that, it had been rising or stagnant for eight months in a row.
“The koruna has been appreciating since the morning regardless of changes in the global mood. The drop in domestic unemployment should not be a big boost to the market. Still, the koruna managed to erase losses against the euro,” comments Tomas Vlk, an analyst at Patria Finance.
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