Czech crown strongest against euro since 2008

The Czech currency, the Czech crown or koruna (Kč / CZK) is the strongest it has been compared to the euro in the last 14 and a half years. On Thursday when trading closed, it was valued at a rate of 23.69 CZK/EUR, the best exchange rate since July 2008.

A strong domestic currency is good news for domestic consumers and importers, according to the Czech News Agency, because it helps dampen inflation by making imported goods cheaper, including energy and raw materials. It is also a bonus for Czech tourists, because it makes their stays abroad cheaper. Conversely, it can be a problem for domestic exporters, as it reduces their competitiveness.