Currencies

FX market is a global market with a very high liquidity and trade volumes. This global market is open 24/7 except for the weekends and a few selected public holidays. The interbank trades are done through electronic systems EBS and Thomson Reuters Dealing. FX market is decentralized, which means there is no central exchange and the trades are realized on the over-the-counter (OTC) basis. Komerční banka enables access to this market through dealing and KB eTrading electronic platform.

Current rates

The quotes are derived from the current rates on the interbank market. The bid-offer spread represents the spread for a typical client trade.

Exchange rates

Exchange rates list states the rates at which it is possible to buy or sell foreign currencies for Czech Crowns at any KB branch in cash (banknotes) or cashless transactions.

Related commentary and analysis

Ad-hoc reports: Abrupt end to the CNB’s hawkishness?

5/17/2022 4:46 PM

Upcoming changes in the CNB board are likely to induce a dovish shift in Czech monetary policy communication. We expect a final 75bp hike in this tightening cycle to be delivered by the CNB at the upcoming June meeting, with the risk of an even larger increase. The new governor Michl has indicated that he will likely apply a wait-and-see policy afterwards, which could mean the risk of further de-anchoring inflation expectations. As a result, we think that domestic rates are set to remain elevated on the back of an increase in the country risk premium. CZK should thus remain weakened around EUR/CZK 25 in the coming months, despite support from CNB’s FX interventions and the wide interest rate differential.

Autor: Jaromír Gec
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