Czech central bank reshapes currency reserve management

The Czech National Bank (CNB) has announced a shake-up of its system for managing its foreign currency reserves.

The bank says it will now divide its reserves into two categories: those destined for fast access and use and those regarded as long-term investments.

The former, accounting for around 45 percent of reserves, will be solely in the euro and US dollar. The later will have a wider currency spread and will include the Canadian and Australian dollars as well as the Swedish koruna, the bank said on Thursday.

At the end of last year, the central bank’s reserves stood at around 3,150 billion crowns.