The koruna strengthened today, the Prague Stock Exchange strengthened by one percent today

The koruna strengthened today, the Prague Stock Exchange strengthened by one percent today
The koruna strengthened today, the Prague Stock Exchange strengthened by one percent today

Prague – Today, compared to Wednesday’s close, the koruna strengthened against the euro and the dollar by four pennies. Today, the Prague Stock Exchange erased its Wednesday losses. The PX index rose by one percent to 1246.49 points.

Today, the koruna strengthened against the euro and the dollar by four pennies

At around 17:00, both major world currencies traded at the same price of 24.48 crowns. This follows from data on the Patria Online server.

The koruna traded at 24.20 CZK/USD at the beginning of the week, but it weakened significantly against the dollar on Tuesday after the publication of inflation in the USA. All risky assets had a similar development. According to Purple Trading analyst Jaroslav Tupé, it is clear that both the American Central Bank and the European Central Bank will repeatedly increase the base interest rate at their next meetings. “This will work against the crown and push it to weaker values,” Tupý said on Wednesday.

Today, the Banking Council of the Czech National Bank left unchanged the rate of the so-called countercyclical capital reserve to protect the credit market. The current rate is one percent, but in line with earlier decisions by the council, it will gradually rise to 2.5 percent from April 2023.

The Prague Stock Exchange gained a percent today, with Erste shares doing best

The vast majority of the most important issues did well. The only major title that lost was the shares of the semi-state energy company ČEZ. This follows from data on the website of the Prague Stock Exchange.

Today, eight out of ten issues that affect the value of the Prague stock market index made a profit. The ninth title, shares of the Austrian insurance company VIG, stagnated.

Securities of the Erste banking group strengthened the most, rising by 3.54 percent to 649.60 crowns. “Thus, they overcame the losses from the previous days and are at the highest price since the end of July,” said Wood & Company analyst Vojtěch Boháč.

Shares of the pharmaceutical chain Pilulka Lékárny strengthened by 2.31 percent to CZK 885 per piece. The issue of the Czech arms company Colt CZ achieved an almost two percent appreciation, which closed trading at a rate of CZK 565 per share. “The news that the government will try to spend two percent of GDP on defense as early as 2024 could help arms company shares,” Boháč estimates.

The only losing title was the securities of ČEZ. They weakened by 0.1 percent to CZK 978. “Nevertheless, in the morning hours, the energy company showed gains and even attacked the target of CZK 1,000,” noted Fio bank’s broker Josef Dudek.

Against Wednesday, the koruna strengthened against the euro and the dollar by four pennies. Today at 17:00, according to the Patria Online server, it traded at 24.48 CZK/EUR and 24.48 CZK/USD.

Exchange rate of the Czech currency:

Previous conclusion

Today around 5:00 p.m

CZK/EUR

24.52

24.48

CZK/USD

24.52

24.48

Source: Patria Online

currency rates conclusion

The article is in Czech

Tags: koruna strengthened today Prague Stock Exchange strengthened percent today

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