FOREIGN EXCHANGE INTERVENTIONS AS A TOOL OF MONETARY POLICY AND THE DEVELOPMENT OF THE CZECH KRONE EXCHANGE RATE DUE TO THESE INTERVENTIONS IN THE YEARS 1993-2024

This bachelor's thesis deals with the interventions of the Czech National Bank on the foreign exchange market during three specific periods. The aim of the work is to verify the hypotheses whether the interventions of the Czech National Bank on the foreign exchange market during these three periods were successful or unsuccessful. The thesis examines the period before the use of these foreign exchange interventions, their course and also their important impacts, especially on their primary objective for which they were used. Based on the results, it can be concluded that the interventions of the Czech National Bank were successful in two cases and unsuccessful in one case. In the conclusion, some negative aspects of these successful foreign exchange interventions are mentioned, in particular the expansion of the Czech National Bank's foreign exchange reserves, which should be slowly reduced in order to avoid large fluctuations in the exchange rate of crowns.