The Czech koruna slipped to its lowest level since 2015 when the price of a euro rose to more than CZK 27.50. The fall came late in the afternoon but according to Patria Online it was trading at CZK 27.67 per euro as of 5 p.m. At its lowest point on Wednesday, it took CZK 27.90 to buy a euro, the lowest it’s been in January of 2015. The currency came under similar pressure from the strengthening US dollar, which rose to more than CZK 25 for a single greenback for the first time since 2017 thanks to an intervention by the Czech National Bank to drive down the value of the Czech currency. The Czech National Bank slashed its base interest rate by 50 bps at the beginning of the week in reaction to severe losses on global financial markets.
