Czech crown weakens against euro, strengthens against dollar

On Friday, the Czech crown weakened against the euro, losing five halers to close at 25.15 CZK/EUR. However, it strengthened by six halers against the U.S. dollar, trading at 22.68 CZK/USD by 5:00 PM. The crown's drop against the euro follows losses after the European Central Bank's recent interest rate cut. Additionally, a report from the Czech Statistics Office revealed a 13.4 billion CZK deficit in the July 2024 current account, contributing to its weakening. Analysts suggest a further strengthening of the crown against the euro is unlikely in the near term due to weak industrial performance.