CEE Exchange Rates Report for May 13 – 17

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.  

The week of May 13th to May 17th saw Central European currencies trend in a similar direction. The Czech koruna (blue) increased from the outset of the week with minor pullbacks, to reach a final 0.86% improvement. Like the koruna, the Polish zloty (red) increased in value during the week and reached a total increase of 0.76% by the week’s end. The Hungarian forint (green) followed the trend of both previous currencies until about halfway through the week when the increases fell back to a point close to where the currency started the week. The Romanian leu (yellow) did not show any significant movement this 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.  

This week exhibited historical data for the Central European currencies. Notably, the Czech koruna (CZK) continued to climb above its upper bound, showing continued growth in recent weeks. The Polish zloty (PLN) rose above its upper bound again this week. The zloty has demonstrated this increasing pattern in past weeks, as the currency has exceeded its upper bound three times in the last three months. The Hungarian forint (HUF) also landed above its upper bound this week, following the trend of the zloty and koruna. However, the Romanian leu (RON) has not shown any significant movement this week, remaining below its median and above its lowest bound.