CEE Exchange Rates Report for June 16th– 20th

By: Peter Ort, The Quinnipiac University Global 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 June 16-June 20, all currencies trended similarly against the USD. The Czech koruna (orange), Polish zloty (blue), and Romanian leu (purple) closed down by 0.75% on Monday, while the Hungarian forint (green) went further down for a -1% change in exchange rate against the USD. All currencies trended upward until Thursday, regaining their previous losses, but losses on Friday left the koruna and leu with slight losses for the week and the zloty and forint down by 0.25%. 

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.  

Apart from this week, all currencies share an upward trend over the past month. The Czech koruna (CZK) goes down a bit from its recent 0.047 exchange rate and the Hungarian forint (HUF) falls from its previous 0.0029 exchange rate. The Romanian leu (RON) continues to follow suit with the rest of the central European countries since its presidential election, falling short of last week’s 0.23 exchange rate. The Polish zloty (PLN) generally goes down similar to all other currencies, going just below its previous 0.27 exchange rate against the USD.