The conversion rate will be HUF 287.20 to the Swiss franc.
Hungarians have more than 200,000 FX vehicle loan contracts valued at almost HUF 300 bln.
Borrowers will be sent a letter on December 15 detailing the amount of their debt, the new interest rate and the repayment schedule.
The government and the Hungarian Banking Association signed an agreement on Wednesday concerning the forint conversion of FX car loans. The state and the banks will each provide 50% of HUF 31 bln in assistance required to effectively lower conversion rates.
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