Analysts expect trend to continue; good news for consumers, travelers
Published:
17 May 2003 y., Saturday
The crown reached a six-year high against the U.S. dollar as the U.S. economy continues to stagnate.
The crown traded at 27.25 Kc to the dollar Friday, May 9, up from 27.20 Kc only two days before.
Analysts attribute the crown's gains to the falling dollar, not to a strengthening of the Czech economy. The dollar fell to $1.152 to the euro as a result of the U.S. Federal Reserve's May 6 decision to leave interest rates unchanged.
The dollar slid still lower in early trade May 12, hitting $1.150, its weakest level against the euro in more than four years.
The dollar lost 3.4 percent against the euro in April. The dollar was worth 33.67 Kc at this time last year.
Šaltinis:
The Prague Post
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