Central bank puts CZK 11 billion into keeping crown down in April

The Czech National Bank intervened on the foreign exchange market to the tune of CZK 11 billion in April in order to combat the growing strength of the Czech crown, according to figures it released on Tuesday. This brings to CZK 530 billion the total amount the central bank has spent on euros since November 2013, when it first intervened in a bid to keep the crown at around 27 to the common European currency. Last month the board of the Czech National Bank said it would probably maintain its weak crown policy until the middle of next year.

Author: Ian Willoughby