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Renewed Russia-related Tensions Weigh on CEE Currencies

CEE FX
  • CEE currencies have been very sensitive to the dynamics of Russia/Ukraine conflict given their relatively bigger dependence on imports from Russia (especially Poland)
  • As expected, RUB has been the worst performing currency among the EM world in recent days; RUB is down 2.4% against the Dollar since Thursday.
  • Poland, which has been the most vulnerable currency among the CEE region, is the second worst performer down 2.3% against the greenback.
  • HUF and CZK have also been depreciating significantly against the dollar and are down 1.7% against the dollar.

Source: Bloomberg

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