By: The Quinnipiac University Economics Research Team, Michael Szwaja
All CEE currencies besides the Czech koruna have seen a change of less than half a percent relative to the Euro over the past two weeks. Furthermore, all CEE currencies experienced a loss in value relative to the Euro. The Hungarian forint, Polish zloty, and Romanian leu depreciated around a quarter of a percent or less. Notably, the Czech koruna saw the greatest change, with a relatively steep decline of around 1%.
The koruna steadily dropped over the two week period with the most significant drop occurring on September 14th. The koruna fell .5% on the 14th, followed by a sharp increase of .25% two days after. The forint experienced a similarly steep drop of .75% on September 16th followed by a small increase. The zloty and leu remained relatively flat across both weeks.
The forint and leu started and ended the two weeks well below their historical lower bounds. The koruna started just above its three-month average before dropping below its rolling-mean within the first few days of the period. The zloty saw a small decrease in its value and remained below its rolling average the entire time. All currencies saw a depreciation in value and finished below their respective three-month averages.