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
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.
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