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GLOSS: Twenty or Pro crown didn’t jump like the Tsarist franc

Only 20 halls? Only twenty crowns were first sent to the crown within an hour of the end of the Czech National Bank’s intervention. At least that’s how I saw it on Bloomberg on Thursday. From the exchange rate of 27 to 26.80 crowns per euro, roughly like that. That’s not much, comments the economist of the investment fund Quant and external adviser to the Minister of Finance Ale Michl.

That twenty is 0.7 percent. When you remember the Czech Republic, which similarly ended the regime, the exchange rate then jumped by thirty and thirty percent.


But Michl, Quant investment fund economist and external adviser to the finance minister

vcarsk frank was like in papik. It was bought all over the world, the central bank took the course as a messenger, and when it let me go, it quickly removed the valve, the splash and at a very moment.

That twenty crowns shows that the release of intervention in the NB’s initiative may be completely different. Of course no one knows. However, the artificially faint crown was such a pressurized pot, but not as much as the Tsarist franc. In addition, the NB communicated a lot and seemed to gradually loosen the valve. You can escape the crown, the fluctuations will come, but it doesn’t have to be such a jump of a percentage point as in the case of the franc.

On the demand side for korunch, there should be exports that exchange the euro and secure it. He will push the messenger of the crown. On the side of the offer of crowns, there are imports and especially speculators who want to run away and make a profit. They will push to weaken me.

These counterparties will be beating each other and the exchange rate will fly here and there, but the main thing will be that it will continue to escape. Bt NB, so I wouldn’t take you to the course. Careless and improper handling of the pressure cooker can therefore be called opaen.