The factors affecting the international judgement of the Forint and Zloty in the light of the financial crisis of year 2008

Abstract

The financial crisis of 2007-2009 has shaken both money and capital markets. Its consequences have not even left European markets untouched and divided spirits in the financial world. In some countries efforts by the monetary policy to protect the national currency throughout the crisis seemed to be ineffective. In the present paper we are investigating the effect of the most important macroeconomic and economic policy factors on the exchange rate of the forint and zloty in the last decade. For an analysis of exchange rates we are relying on some preceding research results based on equilibrium exchange rate theories.