FX rates 18.03.2024
All FX rates
EUR - 25.200 CZK
USD - 23.143 CZK
GBP - 29.467 CZK

CNB – SRB – ECB: Memorandum of Understanding

The Czech National Bank, the Single Resolution Board (SRB) and the European Central Bank (ECB) have signed a memorandum of understanding in respect of cooperation and information exchange for the performance of their tasks under Directive 2014/59/EU of the European Parliament and of the Council. This agreement is an expression of professional cooperation between the CNB and the EU resolution and banking supervision authorities. Similar memoranda are concluded between the SRB, ECB and resolution and banking supervision authorities from countries that do not participate in the Banking Union (pdf, 739 kB).

cnBlog – Denmark’s monetary policy: Permanently halfway to the euro?

Denmark is not a member of the euro area and has a negotiated opt-out for the adoption of the euro, nevertheless the Danish krone is firmly tied to the euro by the fixed exchange rate regime. The country is also a long-term member of the ERM II mechanism. The article by Vojtěch Molnár from the Monetary Department describes the specificities of the Danish approach to monetary policy and explains that although Denmark has been successfully operating with a fixed exchange rate and the long-term participation in ERM II, its experience is not easily transferable to other countries.

Management changes in Financial Market Supervision Department II divisions

Three divisions are to be renamed and three division directors changed in Financial Market Supervision Department II at the Czech National Bank (CNB). Luděk Pestr will become director of the Enforcement Division, Jan Bridzik will head up the ICT and AML/CFT Risk Management Supervision Division and Tereza Kyliánová will take the helm of the Payment Services and Currency Exchange Supervision Division. The Bank Board decided on these appointments at its meeting on 14 March 2024, with effect from 1 April 2024.

Organisational and personnel changes in the CNB’s Cash Department

The Cash Department of the Czech National Bank (CNB) will be renamed the Cash and Payment Systems Department. The Payment System Methodology Division will become the Non-Cash Payments Division. A new Payment System Regulation Division will also be created. The department will have two deputy executive directors. The position of Deputy Executive Director of the department will be held by Kateřina Dvořáková. Jan Mayer will be the Deputy Executive Director in charge of the Cash Circulation and Payment Media Protection Division. Michal Vodrážka will be at the helm of the Payment System Regulation Division. The Bank Board approved these changes at its meeting on 14 March 2024. They will take effect on 1 April 2024.

CNB WP 2/2024 – A Stress Test Approach to the Calibration of Borrower-Based Measures: A Case Study of the Czech Republic

In a new research article, Jiří Gregor introduces two approaches to calibrating borrower-based measures, such as LTV, DTI, and DSTI limits. Using the Czech Republic as a case study, he demonstrates that such regulation is costly and offers limited benefits during periods of low credit growth. However, when considering additional factors not covered by the model, regulating through LTV limits emerges as the best option from a cost-benefit analysis perspective.

Basic indicators of the financial market sectors

Regular quarterly information on individual financial market sectors containing basic aggregate data on the activities of banks, credit unions, insurance companies, investment firms, management companies, investment funds, pension management companies and funds operated by pension management companies as of the end of 2023 Q4.

Read CNB Governor Aleš Michl’s selected speeches and interviews in which he explains how the central bank is fighting inflation and what steps it is taking to achieve price stability.

The older 1995–1999 versions of Czech banknotes have ceased to be legal tender. How can you identify the invalid banknotes most easily and where can you exchange them?

Key rates

5.25%

Discount Rate

6.25%

2W Repo Rate

7.25%

Lombard Rate

2.0%

CCyB
Rate

Inflation

2.0%

February 2024

CNB current forecast

2.6%

Inflation
2024

2.0%

Inflation
2025

0.6%

GDP
2024

2.4%

GDP
2025

Golden Rules for Bureau-de-Change Clients

  1. Change money only at designated bureaux de change. Before changing money, carefully read all the information given on the exchange rate list.
  2. The terms “purchase and sale of foreign currency” and the corresponding exchange rates, i.e. the information about the direction of the exchange, are given from the bureau de change’s perspective...

More about ten golden rules

CNB resumes operation of services at its branches

  • All branches and regional offices of the Czech National Bank will return to full operation, five days a week, from Monday, 14 December 2020.
  • The standard opening hours for CNB clients and the public will be Monday to Friday from 7.30 am to 2.00 pm, with a lunch break from 11.30 am to 12.30 pm.
  • Before your visit, you can check the opening hours for each of our offices on the CNB website (Prague, Brno, Ostrava, Plzeň, Hradec Králové, České Budějovice and Ústí nad Labem).