Crown sets new records against euro and dollar

The Czech crown has set a new record against the common European currency, reaching 25.82 to the euro on Thursday morning. The crown also reached a new high against the US dollar, with one dollar trading at 17.60 crowns. The latest rise in the strength of the crown has been put down to inflation and expectations that the board of the Czech National Bank will raise interest rates at its next meeting.

The Czech currency was also reacting to positive news regarding the country’s balance of trade: November showed a surplus of CZK 11.3 billion, the highest ever seen for that month.