Crown falls to three-year low against the euro

The crown’s value continued to plummet on Monday with the currency hitting a three-year low against the euro, trading at 29 crowns to the euro. The crown has lost 26 percent of its value against the euro in the last year, according to analyst Jiří Šimek from consultants Citco. The crown also fell against the dollar to 22.7 crowns/ USD. The Czech crown currently ranks amongst one of the fastest falling currencies in the world, reports the news website Novinky.cz. According to analysts, a rising rate of unemployment and a drop in industrial production is being mirrored in the currency’s fall.

Author: Rosie Johnston