CEE Market Insights

Erste Group
By December 11, 2018 02:07

CEE Market Insights

Market outlook

All CEE currencies except for the Serbian dinar gained last week. While the koruna, forint, zloty and leu benefited the most from the EURUSD development, the appreciation of the Croatian kuna seems to have been driven by strong demand in the banking sector. In response to the unusual EURHRK development, the Croatian central bank conducted the biggest FX intervention in history, buying almost EUR 500mn. The Croatian kuna has been abnormally strong, given its seasonal pattern, and thus further interventions are likely.

Erste Group
By December 11, 2018 02:07

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