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Central Bank Refrained From FX Interventions In May

CNB

The Czech National Bank did not intervene in FX markets in May for the seventh consecutive month, according to fresh data on its FX transactions.

  • The central bank maintains commitment to prevent excessive fluctuations in the koruna exchange rate.
  • A strong exchange rate is a key pillar of the CNB's monetary policy, which has been repeatedly emphasised by Bank Board members.
  • The koruna has depreciated by around 2.7% versus the euro from its YtD trough printed in April at 23.207.

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