Czech Republic Economic Information
Central Bank: Czech National Bank
Currency: Czech koruna (CZK or Kč)
Centrally located in the European Union, the Czech Republic is considered by many to be one of the most stable and prosperous post-Communist states. Interest from foreign investors in the Czech Republic economy revolve around the economic growth experienced by the country in recent years. Additionally, there is much anticipation of the koruna merging into the Euro Common Currency.
Key industries:
Metallurgy, machinery and equipment, motor vehicles, glass and armaments.
Agricultural products:
Wheat, potatoes, sugar beets, hops, fruit, pigs and poultry.
Export commodities:
Machinery and transport equipment, raw materials and fuels and chemicals.
Import commodities:
Machinery and transport equipment, chemicals, raw materials and fuel.
Historical foreign currency exchange rates
 Downward Trend |
 Upward Trend |
| Source: These exchange rates are interbank rates as published by Interactive Data as of . These rates were not available to retail customers and were not the rates offered by EverBank®. Past performance does not guarantee future results. |
A few factors to consider when evaluating the Czech koruna:
Reasons to consider
- The Czech Real GDP grew by 6.0% in the 3rd quarter of 2007 continuing the country's economic growth of 5% to 6% for the previous 10 quarters.
- During 2007, the koruna was one of the world's best-performing currencies with gains against the U.S. dollar around 15% and 3.5% against the euro.
- In 2007, Czech Republic realized a record trade surplus for the 3rd year in a row due to growing demand from European Union countries for Czech goods.
Risk factors to consider
- As an emerging market, the Czech Republic economy and the value of the koruna can be susceptible to the fluctuation of global-risk aversion.
- The Czech Republic has postponed the adoption of the euro in 2010 and has yet to set a new date. However, future adoption is certain due to European Union rules. Once the Czechs commit to a date, the country must meet economic thresholds and undergo a minimum two-year test of currency stability.
How EverBank can help with your Czech koruna needs?
WorldCurrency® CDs (Single-currency CDs): Earn interest rates at local rates in the currency of your choice.
WorldCurrency Index CDs (Multi-currency CDs): Open a single CD comprised of multiple currencies, each designed to focus on a specific regional strength, and/or geopolitical and economic development. This currency is available in the following Index CD(s):
DollarBull® CDs: Open a single currency CD in reverse—you benefit if the U.S. dollar appreciates against a chosen currency.
WorldCurrency Access Deposit Account: Open a transactional money market account in the currency of your choice.
I'm interested in opening a WorldCurrency® account, what is my next step?
Please note: Not all investments are right for all investors. You should conduct your own research and/or consult with an investment advisor before making any investment.
- Before opening a WorldCurrency account, we recommend reading the following pages:
- If you are ready to open your WorldCurrency account, apply online or call 800.926.4922 for more information.
- For your protection, we require that you sign and mail your application along with a deposit.
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- EverBank, the EverBank Infinity Sphere and the EverBank logo, along with WorldCurrency and DollarBull are proprietary service marks of EverBank. All rights reserved.
