Foreign Exchange Market Flash News: CZK currency super strong

Please find the Czech version of this article here!

High inflation – strong CZK currency?

The Czech Republic is struggling to bring back very high inflation figures to a “normal” level. In January 2023, the Czech Republic inflation rate reached a new high of 17.9%. An Inflation rate in the Czech Republic of this magnitude were last seen in the 1990s. Reason enough for the CNB (Czech National Bank) to raise Czech interest rates considerably. Interest rates have meanwhile reached a level of 7%.

It is interesting to note that despite the persistently high Czech Republic inflation rate, the CZK currency continues to appreciate. In the medium term, the CNB will therefore receive support in the fight against high inflation. Imports are made cheaper by a strong CZK currency and can help to lower the price level in the long term.

The CZK currency rate is currently approaching its “all time low”, but the CZK currency seems to be attracting more and more international investors and a fall below EUR/CZK 23.00 no longer seems impossible.

CZK currency at levels last seen 15 years ago:

Source: TradingView

Conclusion for the Foreign Exchange Market

High inflation and a weak currency can very quickly lead to an economic downward spiral, unfortunately Turkey is a good example here. Most likely, the economy in the Czech Republic will have to cope with a stronger CZK currency in the medium term to longer term.

For more information on the foreign currency exchange market, please feel free to contact our forex experts! You can also check our live currency market overview.

Vysoká inflace – silná měna?

Česká republika se snaží zvrátit velmi vysokou inflaci na “normální” úroveň. V lednu 2023 dosáhla inflace nového maxima 17,9 %. Až takto vysoká míra inflace byla naposledy zaznamenána v 90. letech 20. století. Dostatečný důvod pro to, aby ČNB (Česká národní banka) výrazně zvýšila úrokové sazby? Úrokové sazby mezitím dosáhly úrovně 7 %.

Je zajímavé, že i přes přetrvávající vysokou inflaci koruna nadále posiluje. Ve střednědobém horizontu tak ČNB získá podporu v boji proti vysoké inflaci. Dovoz je díky silné koruně levnější a může dlouhodobě přispět ke snížení cenové hladiny.

Kurz koruny se v současnosti blíží svému “historickému minimu”, ale zdá se, že koruna láká stále více zahraničních investorů a pokles pod 23,00 EUR/CZK se již nezdá nemožný.

CZK na úrovních, které byly naposledy k vidění před 15 lety:

Zdroj: TradingView

Závěr pro měnový trh

Vysoká inflace a slabá měna mohou velmi rychle vést k ekonomickému propadu, bohužel Turecko je toho dobrým příkladem. S největší pravděpodobností se ekonomika v České republice bude muset ve střednědobém až dlouhodobém horizontu vyrovnat se silnější korunou.

Pro více informací o aktualizaci devizového trhu nebo o jednotlivých burzách kontaktujte naše devizové experty!

Disclaimer:
Please note that this elaboration was completed on 08/03/2023 16:01 CET.
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