By Anita Komuves BUDAPEST, March 1 (Reuters) - Central European currencies weakened on Tuesday, adding to losses from the previous session with the Hu
By Anita Komuves BUDAPEST, March 1 (Reuters) – Central European currencies weakened on Tuesday, adding to losses from the previous session with the Hungarian forint hitting another record low versus the euro, as investors worried about the developments in the Russia-Ukraine war. Refugees continued to arrive on Tuesday into central Europe where most countries border Ukraine. More than 660,000 people, mostly women and children, have fled Ukraine to neighbouring countries in the last six days since Russia invaded, the U.N. refugee agency said on Tuesday. CEE currencies added to steep losses on Monday that followed the EU and western allies ratcheting up sanctions against Russia, including blocking some banks from the SWIFT global payments system, because of its invasion in Ukraine. The Hungarian forint weakened 0.87% on the day and was trading at 374.20 per euro, hitting a new record low for the second session in a row. “The events over the weekend really put the knife on the throat of central European currencies,” an FX trader in Budapest said. “Negative news can easily drive the forint’s rate even higher.” Currencies in the CEE region saw steady gains at the beginning of the year as they were supported by higher central bank rates. Those gaines have melted away since Russia invaded Ukraine last week. The Polish zloty plunged 1.1% and was trading at 4.7375 per euro, its weakest since April 2009. The currency was down 3.09% do far this year, the worst performer among its regional peers. The Czech crown weakened 0.36% and was trading at 25.200 versus the common currency. Stock in Prague firmed, recouping some losses from the previous session as they were up 0.77%. Warsaw eased 0.34% while Bucharest was 0.32% up. Budapest weakened 2.88%. Hungary’s OTP Bank was down 5.06% by 1025 GMT, underperforming the wider market. CEE SNAPSH AT MARKETS OT 1120 CET CURREN CIES Latest Previo Daily Change us bid close change in 2022 EURCZK Czech 0 0 EURHUF Hungary 00 00 EURPLN Polish EURRON Romania % EURHRK Croatia % EURRSD Serbian 00 00 % % Note: calculated from 1800 daily CET change Latest Previo Daily Change us close change in 2022 .PX Prague 1363.8 1353.4 +0.77 1 100 % .BUX Budapes 42473. 43731. -2.88% -16.26 t 56 25 % .WIG20 Warsaw <.WIG20 1993.1 1999.8 -0.34% -12.08 > 6 8 % .BETI Buchare 12757. 12716. +0.32 -2.32% st 77 51 % .SBITO Ljublja <.SBITO 1115.0 1091.3 +2.17 -11.18 P na P> 6 8 % % .CRBEX Zagreb <.CRBEX 1994.0 1999.6 -0.28% -4.10% > 0 8 .BELEX Belgrad <.BELEX 826.55 834.64 -0.97% +0.70 15 e 15> % .SOFIX Sofia <.SOFIX 601.58 595.22 +1.07 -5.36% > % Yield Yield Spread Daily (bid) change vs change Bund in Czech spread Republi c CZ2YT= 0 ps CZ5YT= ps s CZ10YT 0 ps Poland PL2YT= 0 ps PL5YT= 0 ps PL10YT 0 ps FORWARD 3×6 6×9 9×12 3M interb ank Czech Hungary Poland Note: are for ask FRA prices quotes **************************************** ********************** (Editing by Raissa Kasolowsky)
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