CEE Exchange Rates Report for July 22 – 26

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 July 22 – July 26, the Hungarian forint (green), Czech koruna (red), Polish złoty (blue), and Romanian leu (purple) all increased in value relative to the United States dollar. The Hungarian forint demonstrated the strongest increase, strengthening by 0.95% relative to the United States dollar. The Czech koruna increased by 0.92%, the Romanian leu by 0.46%, and the Polish złoty by 0.29%.

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. 

This week, the Czech koruna remains approximately one standard deviation above its three-month rolling average. The Hungarian forint, Polish złoty, and Romanian leu all remain below their three-month rolling averages; however, they are all less than one standard deviation below their respective averages.

Further Reading:     

Czech Republic Central Bank Hits Target With Big Inflation Reversal.

Magyar Nemzeti Bank cuts interest rates by 25 basis points.