By: The Quinnipiac University Economics Research Team, Jack Hangen
Throughout the past week, the exchange rate of Central and Eastern European currencies mostly rose in the first half of the week, with mixed results in the latter half. The Hungarian Forint (HUF), the Polish Zloty (PLN), and the Romanian Leu (RON) all ended the week weaker then when they previously started. Contrary to this, the Czech Koruna (CZK) ended the week in a stronger position when compared to the EURO. The currencies spent the first half of the week making linear gains and losses, although the second half of the week was more tumultuous.
Starting with the Czech Korona, the currency opened with week with an exchange rate of CZK 25.296. The CZK later closed in a slightly weaker position at CZK 25.408, which is a 0.4428% change for the currency. This week had an absolute max for the week on September 20th at CZK 25.432, and a relative minimum on September 23rd at CZK 25.408. The Czech Korona ended the week in a weaker position than it started in.
Additionally, the Hungarian Forint began the week at an exchange rate of HUF 351.49 and closed at a rate of HUF 356.99. This was a larger percent change than the CZK, increasing by 1.5648%. This week increased almost linearly, with no major relative maximums or minimums.
Similar to the Czech Korona, the Polish Zloty’s exchange rate ended in a weaker position when compared to the EURO. This is evident form the Zloty’s exchange rate opening at PLN 4.5804, slowly increasing until its sudden jump on Thursday, September 21th to PLN 4.6261. The Polish Zloty’s exchange rate ended the week at PLN 4.6047. Having a percent change over the week of 0.5305%.
Finally, the Romain Leu’s exchange rate also weakened over the week. Starting at RON 4.9488, this currency’s exchange rate rose until ending the week at RON 4.9508. This is a next percentage change of 0.0404%, which is the lowest percent change of the week. The RON had a relative maximum on September 22nd at RON 4.9505 and a relative minimum on September 23rd at RON 4.9503.