Quick Look Series: Exchange Rates from November 23rd – 27th
By: The Quinnipiac University Economics Research Team, Nicholas Ciampanelli
Throughout the past week, Central and Eastern Europe’s various currencies experienced unique shifts in their exchange rate relative to the Euro.
Starting with the Czech Republic’s Koruna, its exchange rate followed trends similar to those of the week prior. For the majority of the week, the Koruna’s exchange rate strengthened, falling by 0.173 to a low of 26.138 Korunas per Euro by Thursday. However, the exchange rate subsequently jumped to 26.213 Korunas on Friday. These changes are consistent with previously observed trends. The Koruna’s value is becoming progressively stronger against the Euro for several weeks now.
Regarding the Hungarian Forint, its exchange rate rose throughout the week. This enabled the Forint’s value to weaken, rising from 360.21 to 362.32 Forints per Euro. Its exchange rate then plateaued Tuesday through Thursday between 361.13 – 361.35 Forints. These changes are somewhat inconsistent with previously observed trends, for the Forint’s value is becoming progressively weaker.
Similar to the Forint, the Polish Zloty’s exchange rate also experienced relative increases throughout the week. Despite an initial decline, its exchange rate weakened following Tuesday. This is evident from the Zloty rising by 0.0241 between then and Friday, increasing from 4.4666 to 4.4907 Zlotys per Euro. These exchange rates are inconsistent with previously observed trends, for the Zloty’s value is becoming progressively weaker.
Lastly, the Romanian Leu’s exchange rate experienced different changes throughout the week. The Leu’s exchange rate declined on Tuesday and Friday, dropping by 0.0012 and 0.0007 Leu’s per Euro respectively. However, the Leu’s exchange rate rose from 4.8728 to 4.8743 Leu between Tuesday and Thursday, a total of 0.0015 Leu. These trends are consistent with previously observed trends. The Leu’s value is becoming progressively weaker against the Euro.