- QU Economics Research Team
CEE Exchange Rates Report for April 8 – April 12
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.
During the week of April 8th – 12th, Central European currencies exhibited multiple different trends. The Czech koruna (blue) saw an initial 0.4% decrease in value which lasted throughout the week until rising slightly at the week’s end to recover half of its loss. The Romanian leu (yellow) saw no significant movement throughout the week, declining by 0.1% in value in total. The Hungarian forint (green) saw the opposite effect of the koruna. The forint initially rebounded from a loss on April 8th to report a 0.2% increase in value for most of the week until dropping down to a 0.4% loss by the end of the week. The Polish zloty (red) increased in value throughout the week. The zloty rose sharply at the beginning of the week and remained at a 0.6% increase by the week’s end.
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.
The week of April 8th – 12th added further progress to the Central European historical currency index. The Czech koruna (CZK) slightly fell back to about its lowest bound, which is where it has consistently remained for the past two months. The Hungarian forint (HUF) has increased to reach a point along its median from a position on its lower bound. The Polish zloty (PLN) significantly rose above its upper bound this week. The zloty has been trending upward throughout the past couple of weeks, showing a strong increase in value. The Romanian leu (RON) has depreciated slightly after reaching a point upon its upper bound this week.
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