Breaking News


Koruna Gains From 16-Month Low on Current Account: Prague Mover

The koruna rebounded from its weakest level in 16 months after the Czech Republic unexpectedly posted its highest current-account surplus on record.

The koruna appreciated 0.3 percent to 25.836 per euro as of 5:39 p.m. in Prague, reversing an earlier 0.3 percent retreat to 25.988, the lowest intraday level since November 2011. The yield on 10-year government bonds dropped seven basis points, or 0.07 percentage point, to an all-time low of 1.67 percent, according to generic indexes compiled by Bloomberg.

The Czech current account, a broader measure of goods and money flowing into and out of the country, had a surplus of 27.7 billion koruna ($1.4 billion) in February, the statistics office in Prague said today. That is the best reading since Bloomberg began tracking the data in 2003 and compares with the median estimate of 11 economists for a 5.2 billion-koruna surplus.

“The February balance-of-payments data published today confirmed that the Czech koruna is safe in terms of external balance,” Jan Vejmelek, an economist at Komercni Banka AS (KOMB) in Prague, wrote in an e-mailed report. The figures “significantly exceeded the most optimistic market expectations,” he said.

To contact the reporter on this story: Krystof Chamonikolas in Prague at

To contact the editor responsible for this story: Wojciech Moskwa at

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.