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Current Affairs Czechs sick of small change?
Is the Czech Republic running out of small change? Here's a quick maths lesson: one Czech crown is worth around 3 US cents. Each crown is divided into 100 hellers, and the Czech National Bank issues 10,20 and 50 heller coins. But a 10 heller coin - worth about a third of a cent - is to all intents and purposes useless. And as Dita Asiedu reports now, more and more people are discarding them and shops are beginning to run out.
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Business NewsCrown still very strong
The Czech crown continued strengthening to record highs last week and on Thursday broke the psychological level of 30 crowns per euro, setting a new record high at 29.9 crowns to the euro. The Central Bank intervened against the currency, sending it back to over 30 crowns. Some experts say the crown could reach as high as 29.50 over the next few days unless the Central Bank intervenes again. Finance Minister Jiri Rusnok said that intervention was justified because the rate of the crown's strengthening does not correspond to economic development.
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