The koruna strengthened against the euro to 23.62 CZK/EUR, the Prague Stock Exchange strengthened

The koruna strengthened against the euro to 23.62 CZK/EUR, the Prague Stock Exchange strengthened

The koruna sent to the euro to 23.62 CZK/EUR, the Prague Stock Exchange sent lilac

Euro, dollar and crown – illustrative photo.

Prague/London/New York – The koruna strengthened against both major world currencies at the beginning of the working week. Against the euro, it improved by two pennies today to 23.62 CZK/EUR and continues to move at the strongest values ​​in 14 and a half years. Compared to Friday's close, the Czech currency strengthened by 13 halers against the dollar and, according to the Patria Online server, traded at a rate of 22.28 CZK/USD around 17:00. The Prague Stock Exchange strengthened today. It follows from the results of trading on the exchange's website.

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The koruna strengthened against the euro at the beginning of the week to 23.62 CZK/EUR

“The koruna against the euro holds a strong position. This afternoon it was trading above 23.60 CZK/EUR,” stated a Komerční banka analyst Jaromir Gec. He expects that the tendency of the koruna to strengthen may continue in the short term, but in the medium term the Czech currency will probably correct these gains.

The Prague Stock Exchange strengthened, most of the main issues became more expensive

The PX index rose by 1.07 percent to 1402.73 points. Most of the main issues on the stock exchange rose in price. The shares of the Erste banking group improved the most.

Strengthening was recorded by six of the ten main issues of the Prague Stock Exchange. Among the gainers were also three issues that were traded in the largest volumes – shares of the energy company ČEZ, Komerční banka and Erste.

Erste's securities achieved the greatest growth, by 2.64 percent to 839.20 crowns. Austrian Erste, which owns Česká spořitelna, will publish its economic results for last year on Tuesday. Komerční banka shares gained 1.21 percent to 751 crowns, and ČEZ shares gained 0.20 percent to 1,024 crowns.

Of the main issues, only the shares of the company Photon Energy, which deals with the construction of solar power plants, were weakened today. They became cheaper by 0.29 percent to 67.80 crowns. The other three main issues stagnated.

The euro strengthens against the dollar after falling to a seven-week low, the pound also rises

The euro is strengthening against the US dollar today, although it fell to a seven-week low in the morning. Shortly after 18:00 CET, the single European currency gained roughly 0.4 percent to $1.0590. In the morning, it fell to 1.0533 USD, i.e. to the lowest level since January 6. The British pound is strengthening today after news that Britain and the European Union have reached a new deal on the so-called Northern Ireland Protocol.

The deal concerns trade rules in Northern Ireland, which have been a source of tension for the past two years following Britain's departure from the European Union. Shortly after 18:00 CET, the pound gained roughly 0.7 percent against the dollar to $1.2030. The euro was down about 0.3 percent against the pound at the same time at 0.8800 GBP.

Today's weakening of the dollar, according to Reuters, was helped by an afternoon report from the US Department of Commerce, according to which orders for durable goods in the United States they decreased by 4.5 percent in January after a 5.1 percent increase in December. The January decrease in orders was thus more pronounced than analysts expected.

Investors' attention continues to focus on the development of interest rates in the United States. Speeches from several officials of the US Central Bank (Fed) are expected this week, which could indicate how significantly the bank intends to raise interest rates.

At the beginning of February, the Fed raised its base interest rate by a quarter of a percentage point as part of the fight against inflation. point to the range of 4.50 to 4.75 percent. He thus slowed the pace of interest rate increases compared to the December meeting, at which he raised interest rates by half a percentage point.

The Fed's key interest rate is now at its highest level since October 2007. The bank began raising it last March, from during that time, the rate increased by a total of 4.5 percentage points.

Czech currency exchange rate:

Previous conclusion

Today around 17:00







Source: Patria Online