By: The Quinnipiac University Economics Research Team, Kyle Del Balso
The majority of the Central European currencies lost value, with the exception being the Polish zloty. The Czech koruna and Romanian Leu experienced stronger domestic currencies at the beginning of the period but ultimately ended with a weaker currency. Up more than half a percent, the zloty was the only CEE currency that never depreciated.
The koruna and leu both lost approximately a quarter percent in value. The Hungarian forint experienced the largest depreciation of all currencies, weakening by nearly 2%.
The forint and leu ended the period less than one standard deviation below their three month average, while also experiencing a decrease in value. The koruna and zloty finished the two weeks relatively close to their respective three month averages, while experiencing no significant change in value.
This is Hungary’s first real drop in their exchange rates since April, and it will be interesting to see if it continues depreciating in the following weeks.