Known as the “loonie”, the Canadian dollar is among the world’s top ten most traded currencies. With its extreme sensitivity to movements in crude oil and other commodities, traders often use the Canadian dollar to speculate on these commodities. It’s also closely tied to the US economy and dollar.
$, Can$, C$, CAD
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$5, $10, $20, $50, $100
5¢, 10¢, 25¢, 50¢, $1, $2
The Czech koruna is the official currency of the Czech Republic. Its value recently jumped against major currencies after the country’s central bank abandoned its policy to peg the value of the koruna to the euro.
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100, 200, 500, 1000, 2000, 5000 Kč
1, 2, 5, 10, 20, 50 Kč
What affects exchange rates between the Canadian dollar and the Czech koruna?
Political events and economic developments in the Czech Republic, the European Union or in Canada could all affect the exchange rate between the dollar and the Czech koruna.
Examples that could affect the CAD/CZK exchange rate are elections in the Czech Republic or Canada with unexpected outcomes, new free trade agreements between the EU and Canada or unexpected changes in economic or monetary policy in either country.
As of now, the political and economic conditions are looking very stable in the Czech Republic. This means that the Czech koruna to CAD dollar exchange rate would most likely be affected by factors outside of that country such as developments in the European Union or in Canada.
How does the Canadian dollar trade against the Czech koruna historically?
The koruna, sometimes referred to as “the crown” in English, has been the official currency of the Czech Republic since 1993. It replaced the Czechoslovak koruna, which was the currency of Czechoslovakia during Soviet rule.
The Czech National Bank intervened in the currency in 2013 to prevent the currency from strengthening too much, and causing the country to lose its competitive advantage in world trade. A return back to more conventional monetary policy happened in April of 2017. The koruna remained stable and the operation was widely considered a success.
Since the beginning of 2017, the Czech koruna has strengthened significantly compared to the dollar, along with many other major currencies.
Canadian Dollar to the Czech Koruna for the last 10 years
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Canadian Dollar to the Czech Koruna for the last 10 months
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Canadian Dollar to the Czech Koruna for the last 10 days
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Market rate for common transfer amounts CAD to CZK
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How can I predict future exchange rates between the Canadian dollar and the Czech koruna?
As an EU member state, the Czech Republic is expected to adopt the euro at some point in the future. The Czech government originally planned to do this in 2010, but the planned adoption was suspended indefinitely in 2005. This was partly due to strong opposition in the Czech population, where only about 15% supported adopting the euro as their currency.
The future exchange rate between the Canadian dollar and the Czech koruna depends very much on the development of the Czech economy and the European economy as a whole, compared to the Canadian economy.
As of May 2017, the Czech economy is looking very strong, with the Czech Republic boasting the lowest unemployment rate in the EU. The economic growth is also at a high, sitting at 4.4 percent in 2015, making it the fastest growing in the EU. These are all signs that the koruna will likely remain in a strong position compared to both the Canadian dollar and the euro going forward.
Future developments in the CAD/CZK exchange rate also depend on the growth of the German economy. Germany is the most important trading partner for the Czech Republic, as well as the largest economy in the EU. If the German economy continues to strengthen, it will continue to help support the koruna exchange rate against the Canadian dollar.
Shirley Liu is Finder's global program manager. She was previously the publisher for banking and investments and has also written comparisons for energy, money transfers, Uber Eats and many other topics. Shirley has a Master of Commerce and a Bachelor of Media, Journalism and Communications from the University of New South Wales. She is passionate about helping people find the best deal for their needs.
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