Forint down on interbank market

History

The forint was trading at 310.57 to the euro late Wednesday on the interbank forex market, down from 308.88 late Tuesday.  At 309.15 to the euro early Wednesday, the forint moved between 308.77 and 310.74, a more than one-month low.

While investors nervously waited for the end of Wednesday's government session with the details of next year's conversion of forex loans into forint debts probably on its agenda, the forint was little supported by a surprise no-change decision at the rate setting meeting of Poland's central bank.

The risk premium of the 10-year Hungarian sovereigns narrowed again to the corresponding US treasuries on Wednesday in the secondary market.

The forint traded at 248.73 to the dollar, down from 246.21 late Tuesday. On Wednesday, it moved between 245.99 and 249.33, a close to three-year low. It was quoted at 257.97 to the Swiss franc, down from 256.54 late Tuesday. Its range on Wednesday was 256.44 to 258.27, a more than one-month low.

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