Crown hits five-month low due to floods

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The Czech crown depreciated in the past few days due to concerns about the effects of the disastrous floods in the Czech Republic. After several week of steady appreciation, the crown's exchange rate fell...

The Czech crown depreciated in the past few days due to concerns about the effects of the disastrous floods in the Czech Republic. After several week of steady appreciation, the crown's exchange rate fell to a five-month low of 31.45 crowns per euro. Experts say it is difficult to establish the cause of the fall - whether it was a mere speculation or real anxiety over Czech economic developments.