The koruna returned to pre-Russian levels

“Although the conflict persists, the situation on the financial markets has calmed down significantly after the initial shock and the koruna is strengthening again. Hájek said.

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During Thursday’s trading, the koruna depreciated its current gains slightly, but still managed to strengthen to the pair with the euro from this year’s low to 25.93 CZK / EUR by 4.78 percent to 24.69 CZK / EUR. The koruna managed to strengthen against the US dollar from its weakest level to CZK 23.91 / USD this year by 6.61 percent to CZK 22.33 / USD.

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“We can see the continuation of the positive mood in risky assets, among which the Czech koruna belongs, since last week, which should further support the strengthening of the koruna.

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However, according to him, the markets remain relatively volatile and the risk of a prolonged war conflict may put the crown under pressure again. Hájek sees room for the koruna to strengthen with the euro in the short term to CZK 25.50 / EUR, while the koruna could strengthen further against the dollar towards CZK 22 / USD.

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