USD/CZK is a Forex ticker that represents the price it will cost you in Czech Republic Koruna to buy 1 US dollar. FX currencies are shortened to three-letter abbreviations for ease and are called ISO codes. The Forex market trades in these currency pairs and have a quote structure of Base/Quote (USD/CZK).
The live USD/CZK rate is shown below in an interactive chart that you can use for technical analysis. Our real-time news and analysis will keep you up to date with factors affecting the price movements of USD/CZK, both fundamental and technical.
Recommended Forex Brokers to Trade USD/CZK
The USD/ CZK is an exotic currency pair. It is one of the least frequently traded pairs but offers some benefits. The Czech Republic Koruna is most commonly paired with the Euro in Forex trades. However, the USD/CZK pairing is also proving popular with traders.
The Czech Republic is one of only a few European countries to retain their original currency and not adopt the Euro as its single currency. The combination of a small European currency with the world’s biggest and most important currency creates interesting trading potential for experienced and novice traders alike.
USD/CZK Significant Price Movements
The Czech Republic has a developed and stable economy with its main focus on industrial production. The majority of the nation’s GDP income comes from service and industry, and the country has a low unemployment rate of 6.5%.
Since its introduction in the year 1892, the Czech Koruna saw one rapid depreciation during the war. There was a major change during the year 1953 when USSR banknotes were issued throughout the country, nullifying all state obligations, commercial papers and insurance stock. With the dissolution of Czechoslovakia in 1993, the Koruna was once more divided into the Czech Koruna and the Slovak Koruna.
Since The Czech Republic conducts the bulk of its trade with the European Union (especially Germany), the Koruna is exposed to European industrial production growth. In contrast, the US dollar is the world’s top reserve currency, lending a distinct US-European relationship to this currency.
Which is the best broker to trade the USD/CZK pair?
There are not many online brokers that support day trading of the USD/CZK pair. We are constantly evaluating new and existing brokers to recommend the most reliable ones. For more information, you can go to our page that reviews and compares the best Forex brokers to learn more about the different platforms where you can trade USD/CZK.
When I trade the USD/CZK pair will I own the actual currency?
No. CFDs allow you to speculate on rises and falls in the currency pair without having physical ownership. With CFDs, you only have to put in a fraction of the market value of the underlying asset when making a trade. Unlike investing, when you trade CFDs, you are not buying or trading the underlying asset. What you are buying/selling is a contract between yourself and the CFD provider.
How to trade the USD/CZK pair?
As the USD/CZK is not a frequently traded pair, the lower volume of trade means there is a lot more predictability in the price action, and trade patterns are a lot easier to spot.
However, trading an exotic pair is better suited to those with more experience of the financial markets.