CEE Exchange Rate Report for May 25 – June 8
By: The Quinnipiac University Economics Research Team, Kyle Del Balso
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%.
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.