Czech currency slump versus Euro on CNB exchange intervention policy

Note: This section contains information in English only.
Source: WBP Online
The Koruna dropped 4.8% versus the European currency to CZK26.982, after Czech National Bank introduced an aggressive foreign exchange intervention measure by selling 500 million of its home currency in order to prevent economy deflation. The consumer price index, as a tool to measure the inflation rate, reached 1% in September and is likely to continue falling, the CNB explained.
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