The Czech koruna depreciated 0.4 percent to 25.520 per euro by 5:07 p.m. in Prague as European stocks erased most of today’s gains on mounting concern that a bailout for Spanish banks won’t stop the euro-area debt crisis.

To contact the reporter on this story: Krystof Chamonikolas in Prague at kchamonikola@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net