Czech crown falls to US dollar

The Czech crown weakened to US dollar on Friday when it sold over 21 crowns per dollar, hitting a two year low against the US currency. The crown also fell to the single European currency, selling at over 25 crowns per euro on Friday. Analysts said the fall was triggered by gloomy news from the eurozone, particularly from Spain. In its long-term prognosis released on Friday, the Czech Finance Ministry expects the average crown to euro exchange rate to weaken to 25.30 crowns per euro this year while in the coming years, the crown should gain 1.2 percent against the euro.

Author: Jan Richter