Czech koruna jumps after central bank unpegs currency from the euro

Czech koruna jumps after central bank unpegs currency from the euro

The Czech koruna jumped today against major currencies as the country’s central bank abandoned its policy of pegging its value to the euro. The decision, taken today, was announced with immediate effect, sending the koruna, or crown, up by 1.55 per cent against the euro at the time of writing. One euro hit lows of 26.6 koruna in mid-afternoon trading, down from the pegged level of 27 koruna to the euro.

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