Forint softens on interbank market

Analysis

The forint was trading at 311.68 to the euro at 5:30pm on Tuesdayʼs interbank forex market down from 310.68 late on Monday.

The euro exchange rate moved in a narrow range during the day with the forint weakening in the first part of the day. A brief interval of the forint strengthening around the middle of the afternoon was again followed by the euro gaining strength in the early evening. The euro exchange rate moved between 309.82 forints and 312.05 forints for the day.

The forint traded at 286.04 to the dollar, down from 285.67 Monday. The forint slowly weakened against the dollar for most of the morning, and, just like in the case of the euro, a temporary period of strengthening in the afternoon was followed by a larger weakening in the evening. The dollarʼs exchange rate fell as low as 284.16 forints before rising to as high as 286.28 forints.

The forint was quoted at 280.70 to the Swiss franc compared to 279.98 earlier. The mixed trading of the morning and the afternoon was followed by the franc strengthening in the evening and the franc exchange rate rising as high as 280.87 forints from as low as 278.70 forints.

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