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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: As expected, CNB has lifted key repo rate to 0.50%

6/24/2021 9:54 AM

As expected, the CNB raised its two-week repo rate by 25bp to 0.50% at its June meeting, with four of the bank’s board members voting in favour, another calling for a 50bp increase and the remaining two preferring continued rate stability. Persistently high inflation and significantly reduced uncertainty around the pandemic were the main reason for the rate hike. Inflation has remained above the CNB’s 2% target for more than two years, which could have an adverse effect on inflation expectations. Moreover, current economic trends are pro-inflationary. Governor Rusnok said at the press conference that, if necessary, the CNB is ready to increase interest rates at each subsequent monetary policy meeting. However, he currently does not think this will be the case. We expect two more hikes this year pushing the repo rate up to 1% at the year-end.

Autor: Martin Gürtler
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