By: The Quinnipiac University Economics Research Team, Jack Hangen
Throughout the past week, the exchange rate of Central and Eastern European currencies largely rose throughout the first half of the week, experiencing greater fluctuations towards to the end of it. The Hungarian Forint (HUF), the Polish Zloty (PLN), and the Romanian Leu (RON) ended the week with weaker exchange rates than previously started with. Contrary to this, the Czech Koruna (CZK) ended the week in a slightly stronger position when compared to the EURO. The smooth increase from the beginning of this week was interrupted by a much more tumultuous second half, only causing the RON to stagnate.
Starting with the Czech Korona, the currency started with week with an exchange rate of CZK 25.288. The CZK ended the week in a slightly stronger position at CZK 25.281, which is a -0.0277% change for the currency. This week’s weakest point peaked on September 14th at CZK 25.389, just prior to the currency strengthen for the remainder of the week.
Additionally, the Hungarian Forint began the week at an exchange rate of HUF 349.88, along with closing at a rate of HUF 350.19. This was a slightly larger and positive percent change than the CZK, increasing by 0.0886%. This change is exemplified from the Forint’s rebound from its weekly low on September 15th at HUF 348.86, climbing to a peak of HUF 350.05 on September 16th.
Similar to the Czech Korona, the Polish Zloty’s exchange rate slightly rose throughout the beginning of the week. This is evident form the Zloty’s exchange rate opening at PLN 4.5763, slowly increasing until its sudden jump on Thursday, September 16th to PLN 4.5753. Having by far the highest percent change over the week at 0.7618%, this sharp incline signifies a noticeable weakening of the currency over the past week.
Finally, the Romain Leu’s exchange rate also weakened over the week. Starting at RON 4.9413, this currency’s exchange rate continuously rose until plateauing at RON 4.9488 by the end of the week. This is a next percentage change of 0.1518%, which is greater than that of the CZK and HUF, but less than that of the PLN. The stagnation of the RON over September 15th and 16th is largely responsible for preventing this currency from having the greatest percentage change of all four currencies.