CEE MARKETS-Zloty reduces losses on c.bank, finmin support
Band Alan Charlish
WARSAW, March 2 (Reuters) – The Polish zloty EURPLN= cut losses on Wednesday after the central bank and finance ministry moved to back a currency that fell to a 13-year low in a sell-off sparked by Russia’s invasion of Ukraine .
The National Bank of Poland (NBP) said it sold foreign currency for zlotys for the second day in a row, while the Finance Ministry said it would exchange most foreign currency funds in the market instead than at the central bank.
Russia’s attack and resulting round of sanctions against Moscow had sent the zloty to its weakest level since February 2009, while the Hungarian forint EURHUF= reached a new record low.
“The NBP and the Ministry of Finance will try to do whatever it takes to strengthen the zloty to fight inflation,” said Mateusz Sutowicz, financial market analyst at Bank Millennium.
At 15:34 GMT, the zloty was 0.49% softer on the day against the euro at 4.77. It had previously been as low as 4.8335.
The Hungarian forint fell 1.16% against the euro to 381.50. The Czech crown EURCZK= slipped 1.12% to 25.72, while the Romanian leu EURRON= was little changed at 4.9485.
The National Bank of Hungary said on Tuesday it was ready to intervene “at any time” to ensure the stability of local financial markets, while the central bank of Poland said it was ready to react to excessive movements in the currency. .
Ahead of the NBP announcement on Wednesday, a Warsaw-based trader told Reuters the central bank had been active in the market. “We have the central bank hitting the offer from time to time,” the trader said. “I wouldn’t call it a very big intervention, but they call sometimes.”
Stocks were higher in Budapest and Warsaw, with Polish coking coal producer JSW JSW.WA up 23% due to potential sanctions on imported coal from Russia.
On Tuesday, Polish Prime Minister Mateusz Morawiecki said Poland wanted the toughest possible sanctions introduced against Russia, including a coal import ban.
CEE MARKETS
INSTANTANEOUS
At 4:34 p.m. CET
CURRENCIES
Last
Previous
Daily
Change
bid
Close
change
in 2022
EURCZK=
Czech koruna
EURCZK=
25.7200
25.4330
-1.12%
-3.30%
EURHUF=
Hungarian forint
EURHUF=
381.5000
377.0850
-1.16%
-3.17%
EURPLN=
polish zloty
EURPLN=
4.7700
4.7469
-0.49%
-3.75%
EURRON=
lei in Romanian
EURRON=
4.9485
4.9478
-0.02%
-0.01%
EURHRK=
Croatian kuna
EURHRK=
7.5650
7.5685
+0.05%
-0.63%
EURRSD=
Serbian dinar
EURRSD=
117.5400
117.6500
+0.09%
+0.03%
Note: daily change
calculated from
1800 CET
INVENTORY
Last
Previous
Daily
Change
Close
change
in 2022
.PX
prague
.PX
1323.49
1350.0100
-1.96%
#ASSESS!
.BUX
Budapest
.BUX
39945.89
38913.62
+2.65%
-21.24%
.WIG20
Warsaw
.WIG20
2041.89
1967.01
+3.81%
-9.93%
.BETI
Bucharest
.BETI
12134.87
12482.78
-2.79%
-7.09%
.SBITOP
Ljubljana
.SBITOP
1136.00
1117.81
+1.63%
-9.52%
.CRBEX
Zagreb
.CRBEX
1976.10
1981.72
-0.28%
-4.97%
.BELEX15
Belgrade
.BELEX15
833.03
833.42
-0.05%
+1.49%
.SOFIX
Sofia
.SOFIX
587.48
592.93
-0.92%
-7.58%
OBLIGATIONS
Yield
Yield
propagated
Daily
(bid)
change
vs. Bunds
change
Czech Republic
spread
CZ2YT=RR
2 years
CZ2YT=RR
4.1390
0.0190
+476 basis points
-8bps
CZ5YT=RR
5 years
CZ5YT=RR
3.3240
-0.0130
+361 basis points
-11bps
CZ10YT=RR
10 years
CZ10YT=RR
3.0540
-0.0260
+306 basis points
-9bps
Poland
PL2YT=RR
2 years
PL2YT=RR
4.0360
0.0640
+466 basis points
-4bps
PL5YT=RR
5 years
PL5YT=RR
4.2470
0.0880
+454bps
-1bps
PL10YT=RR
10 years
PL10YT=RR
4.0700
0.0190
+407 basis points
-5bps
ENG
3×6
6×9
9×12
3M interbank
Czech Republic
CZKFRAPRIBOUR=
4.96
4.96
4.72
4.73
Hungary
OYSTERBUBOR=
6.53
6.65
6.51
4.99
Poland
PLNFRAWIBOR=
4.82
4.86
4.84
3.67
Note: FRA quotations correspond to asking prices
************************************************** **** ***********
(Reporting by Alan Charlish in Warsaw, Jason Hovet in Prague, Gergely Szakacs in Budapest; Editing by Aditya Soni World central bank news CEN Guide to economic data ECOGUIDE
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((alan.charlish@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.