The significance of the “common fate” of regional currencies has decreased in recent months. At the beginning of 2009 the Hungarian, the Polish, the Czech and the Romanian currencies still followed the same trend. Despite some periods of decoupling (like HUF in 2009 March), HUF and PLN moved in the same direction, while in the last two months RON didn’t follow the regional trends (showing lower volatility) and CZK rate trend shows similar shape but with smaller salience than of HUF and PLN.