The lowdown on the Czech Koruna
Economical Influences and the Czech Koruna
If you are considering converting AUD to CZK, it is good to get a snapshot on how the economy may influence the Czech exchange rate.
The Czech Republic has a booming economy with one of the lowest unemployment rates and highest GDP growth rates and in Europe. Much of its economic growth comes from exports, in particular from the automotive industry; and it is due to the demand of these exports that its well-to-economy may also be seen as vulnerable.1
Although the Czech Republic joined the EU in 2004, the country remains outside the euro-zone. Despite this, the koruna was one of 2017’s best performing currencies, appreciating by roughly 16% The improvement of the koruna’s performance was linked to the Czech National Bank’s ending of currency capping to address rising inflationary pressures.1
Czech Republic Koruna Historical Exchange Rate
Favourable economic conditions have seen the Czech koruna perform well, especially during the past two years.
On 23 April 2016, if you exchanged 1 Australian dollar, you would get 19.69080 koruna; by 26 April 2018 you would only get 15.85843 CZK for 1 AUD (2). As of 22 August 2018, the 1 AUD was trading for 16.44465 CZK.2
Convert 1 AUD to CZK
1. Central Intelligence Agency - https://www.cia.gov/library/publications/the-world-factbook/geos/ez.html
2. XE - https://www.xe.com/currencycharts/?from=AUD&to=CZK&view=5Y. Based on mid-market rates as of 22 August 2018.
*The information contained in this article has been compiled by Travelex from different external sources. The figures provided are indicative only and are there to provide an idea of the amount of travel money you may need during your trip. Travelex does not ensure the accuracy and completeness of the information shown. Nothing in this article is to be considered financial advice. Travelex Limited does not accept any liability for any loss or damage derived from any reliance on the information in this article. Travelex Limited (ABN 36 004 179 953, AFSL Number 222444) arranges for and sells Online Foreign Currency via its Online Ordering Facility. You should consider the Terms and Conditions before deciding whether to acquire any product.