Czech currency at its strongest since start of war in Ukraine

The Czech crown was trading at 24.32 CZK against both the euro and the dollar at 5pm CET on Monday, its highest level since February 19 this year. The Czech currency hasn't seen a better exchange rate since Russia invaded Ukraine on February 24.

The Russian invasion of Ukraine weakened the Czech crown significantly, making it sink to a rate of 25.77 CZK against the euro. Since then, the exchange rate has been fluctuating but has remained relatively weak overall. However, the crown has been strengthened recently by the Czech National Bank's announcement on Thursday that it will keep the base interest rate at seven per cent.