By: The Quinnipiac University Economics Research Team, Jack Hangen
Over the past week, the four Central and Eastern European currencies we follow showed a mix of results. Two currencies strengthened relative to the Euro while two weakened. The Romanian Leu (RON) and the Hungarian Forint (HUF) both strengthened although the HUF was changing direction again near week’s end. The Polish Zloty (PLN) and Czech Koruna (CZK) weakened relative to the week’s start with the most clear trend demonstrated by the CZK which weakened consistently throughout the week.
The Romain Leu strengthened relative to the Euro over the week. Starting at RON 4.9449, this currency’s exchange rate fell until ending the week at RON 4.9429. Recall that this means each Euro buys less RON, hence the RON has strengthened. The total change in percentages was -0.0405%. The RON had an absolute max this week of 4.9453 on 1/12/2022 before ending the week with a stronger position than it started at.
The Hungarian Forint is the only other currency to clearly strengthen. The HUF began the week at 358.4 HUF per Euro and closed at a rate of 356.1 HUF per Euro. This was an increase of 0.6458%. The Hungarian Forint had a mid-week low of HUF 355.24 on 1/13/2022. This currency ended the week stronger than it started, however.
The Czech Korona had the clearest trend through the week as the currency continually weakened relative to the Euro. The CZK started the week at 24.357 and ended the week in a slightly weaker position at CZK 24.493 which is a -0.5553% change for the currency.
The Zloty’s exchange rate opened at 4.5334 PLN per Euro. The PLN ended the week at 4.5414, an increase of 0.1765%. The Polish Zloty had a mid-week high on 1/11/2022 of PLN 4.5438. There was also a mid-week stagnation between 01/12/2022 and 01/13/2022. The Polish Zloty ended the week, in a weaker position than it started.