AVN 63.71 No Change ▼ 0.00 (0%)
BOP 8.77 No Change ▼ 0.00 (0%)
CHCC 134.55 No Change ▼ 0.00 (0%)
DCL 10.01 No Change ▼ 0.00 (0%)
DGKC 108.01 No Change ▼ 0.00 (0%)
EFERT 64.27 No Change ▼ 0.00 (0%)
EPCL 41.21 No Change ▼ 0.00 (0%)
FCCL 21.00 No Change ▼ 0.00 (0%)
FFL 15.10 No Change ▼ 0.00 (0%)
HASCOL 15.05 No Change ▼ 0.00 (0%)
HBL 130.50 No Change ▼ 0.00 (0%)
HUBC 81.75 No Change ▼ 0.00 (0%)
HUMNL 7.35 No Change ▼ 0.00 (0%)
JSCL 24.29 No Change ▼ 0.00 (0%)
KAPCO 28.49 No Change ▼ 0.00 (0%)
KEL 3.70 No Change ▼ 0.00 (0%)
LOTCHEM 11.71 Decreased By ▼ -0.01 (-0.09%)
MLCF 41.98 No Change ▼ 0.00 (0%)
OGDC 93.20 No Change ▼ 0.00 (0%)
PAEL 32.90 No Change ▼ 0.00 (0%)
PIBTL 12.76 No Change ▼ 0.00 (0%)
PIOC 95.00 No Change ▼ 0.00 (0%)
POWER 9.72 Decreased By ▼ -0.03 (-0.31%)
PPL 83.50 No Change ▼ 0.00 (0%)
PSO 200.02 No Change ▼ 0.00 (0%)
SNGP 56.52 No Change ▼ 0.00 (0%)
STPL 13.15 No Change ▼ 0.00 (0%)
TRG 46.90 No Change ▼ 0.00 (0%)
UNITY 23.05 No Change ▼ 0.00 (0%)
WTL 1.04 No Change ▼ 0.00 (0%)
BR100 4,133 Decreased By ▼ -155.2 (-3.62%)
BR30 21,019 Decreased By ▼ -858.48 (-3.92%)
KSE100 39,888 Decreased By ▼ -1298.86 (-3.15%)
KSE30 16,750 Decreased By ▼ -546.72 (-3.16%)
COVID-19 TOTAL DAILY
Markets

Most currencies end week with steep losses amid virus worries

  • The Czech Republic recorded 9,721 new COVID-19 infections on Thursday, setting a single-day record for a second day running.
16 Oct 2020

BUDAPEST: Most Central European currencies eased further on Friday at the end of a week of steep losses as countries in the region passed COVID-19 milestones of deaths and new cases nearly every day, which unnerved investors.

The Czech Republic recorded 9,721 new COVID-19 infections on Thursday, setting a single-day record for a second day running.

The country has Europe's fastest growing infection rates.

Poland reported a daily record of 132 coronavirus-related deaths while Hungary reported a record number of 1,293 daily new infections and 33 deaths on Friday.

Currencies in the CEE region led weekly losses among emerging markets due to the soaring infection rates.

The Hungarian forint slid 0.12pc and was trading at 364.94 per euro and could further weaken based on the technical picture, analysts said.

"There is no significant resistance level until 370," Erste Bank wrote in a note. The currency hit a record low of 369.54 on April 1, at the height of the COVID-19 pandemic.

The Hungarian central bank is likely to leave its base rate unchanged next Tuesday after weaker-than-expected September consumer prices eased some concerns about inflation, a Reuters poll of economists showed.

Elsewhere, the Czech crown firmed 0.25pc to 27.311 per euro after weakening earlier this week to levels not seen since May.

The Polish zloty slid 0.13pc to 4.5585 versus the common currency while the Romanian leu was little changed.

Tracking their European peers, CEE stock markets regained some of this week's losses on Friday.

Warsaw's equities led the region and strengthened 1.28pc.

Budapest's blue chip index was up 0.5pc while Prague gained 0.86pc. Bucharest's stocks firmed 0.83pc.