Central Europe’s battered currencies rallied on Monday after four of the region’s central banks issued co-ordinated statements calling recent currency weakness unjustified and raising the possibility of intervention on foreign exchange markets.
It was the first time that banks from the region’s four ex-communist countries with floating currencies had co-ordinated policies, a testament to the seriousness with which falls in Poland’s zloty, Hungary’s forint, Czech Republic’s koruna and the Romania’s leu are being treated.
