PRAGUE, March 15 The Czech central bank's
receivables from abroad grew by 119 billion crowns, or 4.4
billion euros, between March 1 and March 10, the bank's balance
sheet showed on Wednesday.
The bank's foreign assets growth has served as a rough guide
to the bank's 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 bank's board has said it will keep the policy in place
until at least the second quarter and that a likely 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; Editing by Jason Hovet)