Economy 1 MIN READ

Czech central bank steps in markets to stop crown weakening

May 12, 2022By Reuters

The Czech National Bank (CNB) said on Thursday it had launched currency market interventions after a sizeable depreciation of the crown.

It said the goal was to prevent a longer-term weakening of the crown in a situation of high inflation.

The crown EURCZK= reversed its earlier losses after the news and traded up 0.5% on the day at 25.19 to the euro at 0934 GMT.

(Reporting by Jason Hovet and Robert Muller, editing by Jan Lopatka)


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