BUDAPEST, March 1 (Reuters) - Central European currencies weakened on Tuesday, adding to losses from the previous session with the Hungarian forint hitting another record low versus the euro, as investors worried about the developments in the Russia-Ukraine war.
Refugees continued to arrive on Tuesday into central Europe where most countries border Ukraine.
More than 660,000 people, mostly women and children, have fled Ukraine to neighbouring countries in the last six days since Russia invaded, the U.N. refugee agency said on Tuesday. read more
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CEE currencies added to steep losses on Monday that followed the EU and western allies ratcheting up sanctions against Russia, including blocking some banks from the SWIFT global payments system, because of its invasion in Ukraine.
The Hungarian forint weakened 0.87% on the day and was trading at 374.20 per euro, hitting a new record low for the second session in a row.
"The events over the weekend really put the knife on the throat of central European currencies," an FX trader in Budapest said. "Negative news can easily drive the forint's rate even higher."
Currencies in the CEE region saw steady gains at the beginning of the year as they were supported by higher central bank rates. Those gaines have melted away since Russia invaded Ukraine last week.
The Polish zloty plunged 1.1% and was trading at 4.7375 per euro, its weakest since April 2009. The currency was down 3.09% do far this year, the worst performer among its regional peers.
The Czech crown weakened 0.36% and was trading at 25.200 versus the common currency.
Stock in Prague (.PX) firmed, recouping some losses from the previous session as they were up 0.77%. Warsaw eased 0.34% while Bucharest was 0.32% up.
Budapest (.BUX) weakened 2.88%. Hungary's OTP Bank was down 5.06% by 1025 GMT, underperforming the wider market.
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Editing by Raissa Kasolowsky
Our Standards: The Thomson Reuters Trust Principles.
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FX extends losses, forint falls to record low - Reuters
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