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: CNB on guard as economy recovers and inflation not fully resolved

15/06/2024 14:49

In light of latest economic data releases, we are revising some of the forecasts made in our last Czech Economic Outlook report. According to the second estimate of GDP, the economy performed slightly below our expectations in 1Q24. However, household consumption is recovering at a relatively strong pace, which should be supported by faster wage growth. We are therefore leaving our 2024 and 2025 GDP growth forecasts unchanged at 1.4% and 2.2%, respectively. In contrast, we are raising our inflation forecast slightly to an average of 2.4% for this year and 2.0% for next year. We are maintaining our core inflation estimate of 2.6% for this year, but raising our 2025 estimate to 2.0%. This is due to the higher inflation observed in recent months and increasing momentum in household consumption and wages. Meanwhile, wage forecasts have undergone the biggest change due to the surprisingly strong growth at the beginning of this year. As a result, we have raised our estimate of average nominal wage growth to 6.8% for 2024, while leaving it broadly unchanged at 5.3% for 2025. The Czech National Bank, which has proven to be very cautious, is therefore likely to cut interest rates more slowly than we had originally anticipated. Hence we now expect the repo rate to be cut by only 25bp at each of the this year’s remaining meetings, bringing it to 4% by the end of the year. In addition, the koruna is likely to be stronger than we had expected, contributing to tighter monetary conditions than we had forecast.

Autor: Martin Gürtler,Jaromír Gec
Show more