The Czech Crown has Strengthened Again

For many Czechs, who still enjoy lower prices of most of consume goods outside of the Czech Republic, it is a positive development, for many businesses it is a tragedy. The Czech Crown has strengthened again, returning under 24 czk/Euro yesterday. Returning to the price from the middle of September, before the news about bankrupting banks in the USA and stock markets bankrupts, after which the czk lost a lot from its value, almost to 26 czk/€.

If the yesterday course lasted, it would mean a trouble for Czech businesses. Many of them are already in crisis, some very important ones have already closed some of their factories, like the glass-works Czech Crystal.

Stock prices have grown rapidly, bringing along optimism for the financiers in the stock markets. But the main reason for strengthening of czk was different – the main reason was the Hungary save loan of 20 billions Euro, which helped to calm those, who were afraid of financial crisis in the middle Europe.