CEE Exchange Rates Report for February 12 – February 16
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 February 12th to February 16th, Central European currencies depreciated in value. The Hungarian forint (green) began the week by increasing in value until dropping on February 13th. Nearly parallel to the forint, the Polish zloty (red) showed no changes in value from the outset of the week until the 13th when its value dropped by 0.45% by February 16th. The Czech koruna (blue) continued to depreciate throughout the week, reaching a loss of 1.132% by the end of the week. The Romanian leu (yellow) did not experience any significant changes during the week.
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.
For the week of February 12 to February 16th, three Central European currencies remain below their lower bounds. The Czech koruna (CZK), Hungarian forint (HUF), and Romanian leu (RON) have lost value over recent weeks and continue to be below their lower bounds. The Polish zloty (PLN) reached a point above its upper bound this week but has slightly depreciated since.
Notably, the Czech koruna (CZK) has exhibited a trend of depreciating in value since a small rebound in January 2024.
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