CEE Exchange Rates Report for February 26th – March 1st
By: Thomas Taheny, The Quinnipiac University Economics Research Team
CEE Currencies Index
Source: Eurostat and own calculations. Exchange rates are inverted to be Euro per local currency (i.e., an increase indicates a stronger domestic currency) and then indexed to 100 at the start of the period.
The week of February 23rd to March 1st displayed various performances among Central European Currencies. The Hungarian forint (green) dropped significantly in value over the week, reaching a 1.22% decrease from the outset. The Polish zloty (red) experienced a volatile trend for most of the week, eventually ending 0.15% lower than its starting point. The Romanian leu (yellow) and the Czech koruna (blue) followed nearly identical trends throughout the week, both currencies fluctuating slightly around their starting points and ending above their initial values by March 1st.
CEE Currencies Historical Trends
Source: Eurostat and own calculations. Exchange rates are inverted to be Euro per local currency (i.e., an increase indicates a stronger domestic currency). The center line is a rolling three-month average. The upper and lower boundaries are the average plus and average minus one standard deviation, respectively, for the same three-month period.
During the week of February 23rd to March 1st, the Czech koruna (CZK) remained below its lower bound, displaying no significant movement. The Hungarian forint (HUF) continued its downward trend, reaching a point further below its lowest bound. The Polish zloty (PLN) did not exhibit any significant changes, remaining above its upper bound. However, the zloty saw an upward movement during the week, which later retraced to a point slightly below its starting point. Notably, the Romanian leu (RON) experienced a significant increase in value this week, rising from a value at the median point of fluctuation to a point above its upper bound. The currency trended upward, then retraced to the upper bound, losing value.
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