Donald Trump’s victory in the US presidential election weakened not only the forint, but also other regional currencies, although it is also clear that even with the higher central bank base rate (6.5%), the forint fell the most until this morning. Compared to the euro, the forint is now down by half a percent compared to the level at 10 o’clock last night, the Czech koruna has weakened by only 0.2%, and the Polish zloty is stagnant because it recovered in the last half hour.
The dollar has roughly strengthened against the euro since last night (by 1.6%), so the regional currencies fell more against the dollar, there was a moment when the forint declined by 3% early this morning. Now the forint is falling by 2.3%, the Czech crown by 2%, and the Polish zloty by 1.7%.
At the end of September, the forint closed at 356 against the dollar, now it is trading around 383-384, so we can talk about a decline of almost 8%. This means a 5.5% drop for the zloty, and 4.5% for the Czech crown.
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The exchange rate crosses against the dollar look like this in the last three months:
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Due to the relative underperformance of the forint, the zloty/forint exchange rate reached a new high, i.e. the forint fell to another historic low against the Polish currency.
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