• Rajan Doering

CEE Exchange Rate Report for May 25 – June 8

By: The Quinnipiac University Economics Research Team, Kyle Del Balso



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 be 100 at the start of the period.

In relation to the Euro all of the Central European currencies gained value. The Hungarian Forint and the Romanian Leu experienced weaker domestic currencies at the beginning of the period but ultimately ended with a stronger currency. The Czech Koruna saw the highest appreciation of all currencies, strengthening by approximately 1.5%.

The Leu and Zloty ended the period gaining approximately a quarter of a percent and half a percent in value, respectively. The Forint constantly rose following May 28, appreciating by almost 1.5%.


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.

The Koruna and Zloty finished the period near their three month average, while also experiencing an increase in its value. The Forint and the Leu also ended the two weeks with a strengthening in their currencies, with the Forint less than one standard deviation above and the Leu less than one standard deviation below their respective three month averages.

As each country has attempted to restore their economies, it is interesting to note that Hungary has been the only CEE currency that ended with an appreciation during each two week exchange rate report from April 27 to June 8.

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