Czech crown breaks record against US dollar, again

14-01-2008

The Czech crown has broken another record against the US dollar when it sold at 17.32 crowns to the dollar on Monday. Analysts say the dollar weakened due to speculations over possible higher losses of the American Citigroup company. The Czech Exporters’ Association has urged the Czech National Bank not to raise interest rates. They believe this could keep the Czech crown from strengthening and diminish the losses by Czech exporters.