Czech National Bank removes koruna cap

After three and a half years, the central bank scraps the floor on EUR/CZK

falling-coins-getty
Currency moves: "The CNB stands ready to use its instruments to mitigate potential excessive exchange rate fluctuations, if needed" – CNB

The Czech National Bank (CNB) has removed the upper limit in the koruna’s exchange rate against the euro at an extraordinary meeting today (April 6), ending its three-and-a-half-year policy to keep the EUR/CZK rate below 27.

In the immediate aftermath of the announcement, the koruna gained 1.13% against the euro, trading at 26.73 at the time of publication. 

The move was largely expected by the markets after the CNB’s board meeting last week, during which the central bank tweaked its language

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact customer services - www.fx-markets.com/static/contact-us, or view our subscription options here: https://subscriptions.fx-markets.com/subscribe

You are currently unable to copy this content. Please contact info@fx-markets.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to FX Markets? View our subscription options

Most read articles loading...

You need to sign in to use this feature. If you don’t have a FX Markets account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: