Traders Fail to Inflict Pain as Czechs Defend Koruna Cap: Chart

Preventing koruna gains is less painful for Czech policy makers so far this year than in 2015. The central bank in Prague said on Tuesday it bought foreign currencies worth 2.2 billion euros ($2.4 billion) in January defending its Swiss-styled cap around 27 per euro. While the amount rose for a third month, the volume trails highs of 3.7 billion euros last August and 7.5 billion euros in November 2013 when the central bank imposed the cap to avert deflation.

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