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

Official prices GLOBAL/INT Emerging Journal EMRG/LOG

Top Events M/CALENDAR Diaries LOGBOOK Agenda index IND/AGENDA

)

((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.