The foreign exchange reserves of the CNB fell year-on-year to EUR 142.3 billion in August

The foreign exchange reserves of the CNB fell year-on-year to EUR 142.3 billion in August
The foreign exchange reserves of the CNB fell year-on-year to EUR 142.3 billion in August

The foreign exchange reserves of the Czech National Bank (ČNB) fell by 2.4 billion euros year-on-year to 142.3 billion euros at the end of August.

The CNB’s foreign exchange reserves were EUR 3.9 billion lower in August than in July. Compared to July and last August, they also decreased in crowns and dollars. This follows from preliminary data published by the CNB on its website today.

“According to the central bank’s data published today, the foreign exchange transactions of the CNB reached a new record in July – almost 10 billion euros, after 3.5 billion in May and 7.1 billion in June. In the three months starting this May, the CNB sold more than 20.5 billion euros from foreign exchange reserves to prevent the koruna from weakening,” said Creditas Chief Economist Petr Dufek.

Foreign exchange reserves in crowns at the end of August amounted to 3.49 trillion crowns. They were lower by approximately 199.9 billion crowns year-on-year and by 105 billion month-on-month. In dollar terms, reserves fell by 28.8 billion year-on-year to 142.4 billion. Compared to July, they decreased by 6.7 billion.

“The CNB probably continued its interventions during August, although probably with less intensity. By the end of August, foreign exchange reserves fell by almost 4 billion euros to 142.3 billion euros,” added Dufek.

The article is in Czech

Czechia

Tags: foreign exchange reserves CNB fell yearonyear EUR billion August

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