About the AUD/CZK rate
The AUD/CZK rate is how many CZK one Australian dollar buys. It moves constantly with interest-rate expectations, commodity prices and global risk sentiment - see what moves the rate. Tradergy shows the mid-market reference rate and does not forecast where it’s heading. For the 52-week highs and lows and a daily table, see the AUD/CZK rate history.
Related views of this rate: the reverse rate, CZK → AUD, is on the receiving Czech koruna view, and sending Australian dollars to the Czech Republic is covered on the AUD → CZK transfer page. Every AUD pair sits on the convert hub, and to work in more than one currency at once there is the currency converter.
Three and a half years of unlimited intervention
Central banks rarely name the number they will defend. On 7 November 2013 the Czech National Bank named one: it would not let the koruna strengthen past 27 to the euro, and stood ready to intervene without limit of time or volume to stop it. Its own account of why is unusually plain - the economy was in recession, unemployment was near 8 per cent, inflation net of tax changes was falling towards zero, and policy rates were already at what the Bank calls technical zero, so the commitment was the additional easing instrument available to head off a deflationary spiral.
The line held for nearly three and a half years. The Bank Board discontinued the commitment on 6 April 2017, on the stated ground that the conditions for meeting its 2 per cent inflation target sustainably had been met - an exit announced by the institution that had made the promise. The Bank puts the intervention purchases that supported the policy at 75 billion euro by March 2017.
What operates now is what operated before. The Bank has targeted inflation since 1 January 1998, and since 2010 the target has been 2 per cent annual consumer price growth with a tolerance band of one percentage point either side, pursued as a managed float in which it may act to moderate excessive volatility in the exchange rate but does not aim at a level.
The koruna itself is younger than the target. The Bank was established on 1 January 1993 when the State Bank of Czechoslovakia was divided, and the monetary separation of the Czechoslovak koruna into Czech and Slovak currencies took effect on 8 February 1993, handled at first by stamping the existing federal banknotes until new ones could replace them.
Sources: Czech National Bank, a look back at the discontinued exchange rate commitment · Czech National Bank, what was the exchange rate commitment · Czech National Bank, inflation target · Czech National Bank, monetary policy factsheet · Czech National Bank, on the separation of the Czechoslovak currency