The decline occurred around midday, when the crown strengthened from 12.25pm to 12.18pm. According to the Patria server, it fell even lower just before five in the afternoon, at 24.16.
According to Komerční banka analyst Martin Gürtler, the reasons for the current strengthening are not entirely clear. “The Czech koruna has done well, with no obvious stimulus to exchange rate fixing and an uninteresting development of the euro-dollar exchange rate,” he said. “The koruna is therefore the strongest since about mid-2011. It was only stronger in 2008 when it traded slightly below CZK/EUR 24 before the global financial crisis erupted,” he added.
It was trading at 22.7 kroner to the dollar against the US dollar, and also strengthened by 18 halers during the day.
The exchange rate of the crown against the euro fluctuates considerably this year. The Czech currency weakened sharply between February and March, when Russia launched a military attack against Ukraine. It reached the rate of 25.77 CZK/EUR.
