Czech central bank foreign assets grow by 3.6bn euros in Feb 1-10

PRAGUE: The Czech central bank's receivables from abroad grew by 97.4 billion crowns, or 3.61 billion euros, in the first 10 days of February, balance sheet data showed on Wednesday.

The bank's foreign assets growth has served as a rough guide to its purchases of foreign currency on the market to keep the crown on the weak side of 27 per euro. The data can be affected by other transactions such as inflow of EU subsidies.

The central bank has increased its market activity in recent months to contend with speculative flows as the bank nears an exit to its intervention regime in place since 2013.

It has said it would keep the weak crown policy in place until at least the second quarter and that a likely exit would be around the middle of 2017.