Czech Republic: Czech koruna depreciates slightly in July but remains firm
July 29, 2011
By 29 July, the Czech koruna (CZK) depreciated 0.6% in nominal terms over the previous month and traded at CZK 17.0 per USD. Despite the slight loss in value over the previous month, the July outturn, together with June and April, had represented the strongest level this year. The koruna has gained an accumulated 10.6% versus the USD this year and, at the current level, is trading 12.2% stronger than the same month last year. As a result of the persistent appreciation, export growth lost steam in June, rising 9.6% annually to CZK 244 billion (USD 14.5 billion), which was well below the 18.5% expansion registered in May.