Czech crown hits all-time high

The Czech crown reached an all-time high on Wednesday morning, hitting 28.10 crowns per Euro. Another record was also set against the U.S. dollar, with the crown trading at 21.78 Kc per one USD. The Czech crown set its previous record highs in May of this year. Analysts say that August's record highs are due to confidence resulting from Czech economic growth, the popularity of Czech products on the EU market, and a number of speculative investments. The powerful Czech crown means cheaper vacations abroad, as well as lower prices for gas on the domestic market.