Czech currency could go into freefall

Consumers and investors are being warned the Czech crown will remain weak for the remainder of the year and into 2013, as economists predict the central bank will continue to devalue the currency to help fight the effects of the recession.

Market analysts expect the euro-Czech crown exchange rate will stay above the level of 25.00 for several weeks in line with official forecasts and don’t rule out a further depreciation of up to 26.00 if the economy weakens.

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