PRAGUE, March 23 The Czech central bank's
receivables from abroad grew by 116.6 billion crowns, or 4.3
billion euros, between March 11 and March 20, the bank's balance
sheet showed on Thursday.
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.
In the first 10 days of March, receivables from abroad had
risen by 4.4 billion euros.
The bank's board has said it will keep the policy in place
until at least the second quarter and that the likely timing of
the exit will be around the middle of 2017.
Interventions have soared this year as investors believe the
crown is undervalued. Companies have also ramped up hedging of
future euro revenues. The central bank has warned that long
crown positions may result in volatility and the crown may move
in both directions when the peg is dropped.
Official intervention data for February will be released on
April 7, and March data will be released on May 9. The size of
foreign reserves at the end of March will be released on April
(Reporting by Jan Lopatka)