Putin’s threat leaves CEE currencies calm
Hungary’s CPI barely changed in March
CEE currencies shrugged off the threat expressed by Russian president Vladimir Putin regarding possible disruptions of gas supplies to the region. Putin warned that Russia would cut gas delivery to Ukraine if Ukraine would not pay back its debt amounting to 2.2 bn. USD. Although the CEE is highly dependent on Russian gas imports, regional currencies were not hurt by the statement. The Hungarian forint traded in a narrow range between 305.0-305.5 HUF against the euro, while the Czech koruna, like the Polish zloty posted only marginal losses.
Read the full report: FX Daily
KBC