Economics
Czech Koruna Approaches Euro Cap: Intervention Policy Explained
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After three months of gains against the euro, the koruna is closing in on the threshold that Czech central bank Governor Miroslav Singer pledged to defend.
The currency climbed to 27.07 per euro on Tuesday, the strongest level since November 2013, when the central bank intervened to weaken the exchange rate and set the floor at about 27. It traded at 27.104 as of 2:50 p.m. in Prague on Wednesday.