CEE Exchange Rates Report for May 6 – 10

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 May 6th to 10th, all four Central European currencies weakened relative to the United States dollar. The Polish złoty (blue) experienced the most significant decline, ending the week with a decrease in value of 1.54%. The Czech koruna (red) started to increase at the beginning of the week, reaching a mid-week high of 0.16%, but ultimately ended the week with a decrease in value of 0.57%. The Hungarian forint (green) concluded the week with a decrease of 0.84%, while the Romanian leu (purple) demonstrated the least depreciation among these currencies, ending the week with a decrease of 0.50%.

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. 

Although all four currencies decreased in value this week, they are still showing an overall upward trend. The Czech koruna has risen to more than one standard deviation above its three-month average. The Hungarian forint remains approximately one standard deviation above its three-month average. The Polish złoty is roughly equal to its three-month average, and the Romanian leu remains slightly below its three-month average but is trending upward.