Central Europe's currencies hit new lows against dollar



PRAGUE, Sept 26 (Reuters) - Central Europe's currencies hit record lows against a strengthening dollar on Monday and remained under pressure against the euro as economic fears hit sentiment in the region.

Czech consumer confidence dropped to new lows in September, data showed on Monday, while in Hungary, consumer sentiment dropped below levels seen at the start of the COVID-19 pandemic in 2020.

The data was the latest in the region pointing to an economic slowdown coming as soaring inflation and energy costs hit consumers, taking away an important growth driver.

It comes as the region's currencies sit under pressure due to a firming dollar as the U.S. Federal Reserve fights inflation by aggressive interest rate hikes. At the same time, central Europe's rate setters seek to slow or end tightening cycles running since last year.

The Czech crown EURCZK= dropped 0.2% to 24.645 to the euro, the region's main reference currency, and Hungary's forint EURHUF= inched down 0.1% to 406.3.

Due to the dollar's strength "emerging markets are expected to be under strong pressure in the near future, while almost all fundamentals are going to be pointing towards further strengthening of the dollar," Takarekbank said.

The bank's analysts added this would make imported raw materials even more expensive, adding to companies' costs.

Europe's energy crisis, too, is piling pressure on households and firms alike as electricity bills jump.

European Union countries should reach a deal on Friday on the bloc's proposals to impose windfall profit levies on energy firms to attempt to tackle soaring energy prices, Czech Industry Minister Jozef Sikela said on Monday.

On Monday, the forint touched a record low against the dollar HUF= , bidding above 423, while the zloty PLN= bid at almost 4.95 in early trade, also a new low. The zloty EURPLN= traded steady at 4.75 the euro.

Romania's leu EURRON= was also steady against the euro and was earlier bid above 5.13 against the dollar RON= , a fresh record low. The crown CZK= was at it lowest against the dollar since early 2020.

Stock markets also dropped, led by Warsaw's .WIG20 1.7% fall.

CEE

SNAPSHO AT

MARKETS T

1022

CET

CURRENC

IES

Latest Previou Daily

Change

s

bid

close

change in 2022 EURCZK Czech

<EURCZK 24.6450 24.6000 -0.18% +0.92% =

crown

=>

EURHUF Hungary <EURHUF 406.300 405.950 -0.09% -9.08% =

forint

=>

0

0

EURPLN Polish

<EURPLN 4.7495 4.7500 +0.01% -3.34% =

zloty

=>

EURRON Romanian <EURRON 4.9425 4.9410 -0.03% +0.12% =

leu

=>

EURHRK Croatian <EURHRK 7.5265 7.5225 -0.05% -0.12% =

kuna

=>

EURRSD Serbian <EURRSD 117.250 117.335 +0.07% +0.28% =

dinar

=>

0

0

Note:

calcula

1800

daily

ted

CET

change

from

Latest Previou Daily

Change

s

close

change in 2022 .PX

Prague

.PX

1160.56 1168.13 -0.65% #VALUE!

00

.BUX

Budapest .BUX

38497.7 38657.4 -0.41% -24.10%

8

1

.WIG20 Warsaw

<.WIG20 1433.63 1457.78 -1.66% -36.76%

>

.BETI Buchares .BETI 10945.0 10898.3 +0.43% -16.20%

t

3

7

.SBITO Ljubljan <.SBITO 1014.09 1024.53 -1.02% -19.23% P

a

P>

.CRBEX Zagreb

<.CRBEX 1958.03 1969.44 -0.58% -5.83%

>

.BELEX Belgrade <.BELEX 831.12 841.23 -1.20% +1.26% 15

15>

.SOFIX Sofia

<.SOFIX 582.92 589.13 -1.05% -8.30%

>

Yield

Yield

Spread Daily

(bid)

change vs Bund change

in

Czech

spread

Republic

CZ2YT=

2-year <CZ2YT= 6.1000 -0.0640 +415bp -10bps RR

RR>

s CZ5YT=

5-year <CZ5YT= 5.2460 0.1110 +316bp

+5bps RR

RR>

s CZ10YT

<CZ10YT 5.2090 0.3160 +313bp +27bps =RR

10-year =RR>

s

Poland

PL2YT=

2-year <PL2YT= 6.8030 0.0710 +485bp

+3bps RR

RR>

s PL5YT=

5-year <PL5YT= 6.9580 0.2040 +487bp +15bps RR

RR>

s PL10YT

<PL10YT 6.6510 0.1830 +457bp +14bps =RR

10-year =RR>

s

FORWARD

3x6

6x9

9x12

3M

interba

nk

Czech

<CZKFRA

7.28

7.19

6.89

7.24

Rep

><PRIBO

R=>

Hungary <HUFFRA

13.70

13.63

13.34

12.94

><BUBOR

=>

Poland

<PLNFRA

7.50

7.54

7.45

7.15

><WIBOR

=>

Note:

are for

FRA

ask

quotes

prices

***********************************

***************************


Reporting by Jason Hovet in Prague, Krisztina Than and Anita Komuves in Budapest, Luiza Ilie in Bucharest and Alan Charlish in Warsaw; editing by Uttaresh.V

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