Czech currency tumbles

For the last six months, the Czech crown has topped lists of the world’s fastest strengthening currencies. Now, in a stark reversal, the Czech crown has flipped to being the second fastest weakening currency in the world – second only to the currency of Zimbabwe, according to new data from the Czech National Bank. In late July, the Czech crown reached a peak against the Euro trading at less than 23 crowns to 1 Euro, amidst increasing concerns that the strong currency was beginning to damage the country’s economy. Since that time, the currency has fallen to around 24.30. However, analysts still note that the Czech currency is relatively strong, and the recent sharp fall has only lessened this slightly – further strong falls are not forecast for the remainder of the year.

Author: Dominik Jůn