The Currency Index
During the week of March 4th – March 8th, each of the central European countries’ currencies weakened relative to the Euro. The Czech koruna and the Romanian leu decreased by approximately the same amount of .08%. The Hungarian forint and the Polish zloty also shared approximately the same percent decrease of .03%. Although the two pairs of countries arrived at the same percent decreases’, no two paths were the same among the pairs.
This week the currency to watch is the Polish zloty. Although the zloty weakened this week in relation to the Euro, it did not weaken enough to disrupt the currency from replicating its three-month average for the week. After weeks of being undervalued, it is encouraging that the zloty maintains this average moving forward.