Czech currency expected to gain on news of revised foreign trade surplus figures

20-08-2005

The already strong Czech currency is expected to gain against the common European currency and the US dollar in September, market analysts have said. The prediction follows on news that the Czech foreign trade surplus for the first half of 2005 has been revised upwards, from 38 to 44 billion crowns. Economists say that GDP growth could now exceed 4.4 percent for the first-quarter of this year. The improved results should strengthen the crown from its current level of around 29.40 to the euro and 24.22 to the US dollar.