< /p> Money, banknotes, euro, Czech crown – illustration photo.
Prague – The Czech currency weakened against both major world currencies on Thursday. At 5:00 p.m., the koruna weakened compared to the previous close by five pennies to the euro to 23.69 CZK/EUR and to the dollar by six pennies to 22.20 CZK/USD. This follows from data on the Patria Online server.
Today's strengthening of the koruna erased most of the gains against the euro from Wednesday, when it reached record strong levels. On Wednesday, the Czech currency reached the exchange rate of CZK 23.64/EUR, which was the strongest position against the euro since the end of July 2008.
According to Komerční banka analyst Jaromír Gece, the development of the exchange rate against the dollar today was influenced by the statements of high-ranking official of the American central bank (Fed) Loretta Mesterová. “At the last meeting, according to her words, she saw convincing economic reasons for a further increase in interest rates by 50 basis points. The dollar reacted by strengthening below 1.07 USD/EUR. Regional currencies also lost in connection with this,” said Gec.
On Thursday, the PX stock market index weakened by 0.47 percent to 1400.55 points. It was mainly driven down by the shares of the energy company ČEZ and Komerční banka. Activity on the market was high, the total volume of transactions exceeded 1.2 billion crowns. It follows from the data of the stock exchange website.
“After the positive opening, the Prague Stock Exchange began to gradually weaken and even in the morning it reached negative territory, the selling pressure then intensified after the worse data in the USA in the afternoon,” said Fio bank's broker Josef Dudek.
The profit-taking continued on ČEZ shares, which lost 1.83 percent to 1,017 crowns. At the same time, they were traded significantly more than other titles, the total volume of trades in energy company shares exceeded 950 million crowns. “They were traded three times compared to the six-month average,” noted broker Wood & Company Lukáš Novotný.
The banking sector traded mixed. Komerční banka lost 1.08 percent to 734 crowns. Insurance company VIG fell by 0.67 percent to 594 crowns. On the contrary, Moneta Money Bank rose by 0.8 percent to CZK 87.70 and Erste Bank by 0.45 percent to CZK 852.
Exchange rate of the Czech currency:
Thursday around 5pm
Source: Patria Online