Central bank announces modest foreign currency interventions in July

The Czech National Bank announced that it spent 8.29 billion crowns in July on currency interventions aimed at preventing the appreciation of the Czech crown. The level of intervention is slightly higher than the 8.45 billion of June but way below the double digit figures from May, April, and February this year and the 58.16 billion crown figure for January. The central bank has spent around 563 billion crowns since it begin the so-called low crown policy of keeping the crown at or below 27 crowns to the euro in November 2013.

Author: Chris Johnstone