Czech National Bank shows loss for 2001

CZECH REPUBLIC - The Czech national Bank (CNB) posted a loss of CZK 28.6 bn in 2001, against a profit of CZK 2.5 bn in 2000, according to figures released by the bank.

The central bank's yearly result is heavily influenced by developments in the exchange rate of the Czech crown. The Czech currency's weakening is reflected in the growth in the crown value of the CNB's foreign exchange reserves, which make up a major part of the bank's assets. The strengthening of the Czech crown negatively infl