CEE Exchange Rates Report for August 26th – 30th

By: Zoe McLaughlin, The Quinnipiac University Economics Research Team

CEE Currencies Index

Source: Yahoo Finance and own calculations. Exchange rates are inverted to be USD 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 August 26 – August 30, the Czech koruna (red), Hungarian forint (green), Polish złoty (blue), and Romanian leu (purple) all saw slight increases in value relative to the United States dollar. The Polish złoty experienced the most significant change, ending the week with a 0.40% increase against the dollar. The Hungarian forint rose by 0.10%, the Czech koruna by 0.15%, and the Romanian leu by 0.36%. 

CEE Currencies Historical Trends

Source: Yahoo Finance and own calculations. Exchange rates are inverted to be USD 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. 

Despite their gains this week, the Czech koruna, Hungarian forint, Polish złoty, and Romanian leu are all trending downward relative to the United States dollar. However, each of these currencies remains more than one standard deviation above their respective three-month rolling averages.

Further Reading:               

National Bank of Hungary leaves interest rate unchanged.