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Forint down on the stronger dollar

History

The forint was trading at 308.42 to the euro late Friday on the interbank forex market, down from 307.95 late Thursday. At 308.08 to the euro early Friday, the forint moved between 307.04, a one-week high, and 308.64. Late Friday it was 0.0003% down on a week ago. Last week the forint eased 0.83%. It is down 3.63% year-to-date, after falling 1.95% last year.

The Hungarian currency eased in the wake of the Fed's Wednesday guidance that unsettled investors about its rate policy next year, and the fast strengthening dollar weighed, while the memory of a successful auction on Thursday of longer-term Hungarian sovereign paper waned by Friday afternoon.

An announcement of the deputy head of the government debt management agency on Thursday that Hungary plans no foreign currency bond issuance in 2015, still put some floor under the forint.

The forint traded at 246.22 to the dollar, down from 244.16 late Thursday. On Friday, it moved between 243.89 and 246.87, a new more than three-week low. It was quoted at 255.77 to the Swiss franc, down from 255.39 late Thursday. Its range on Friday was 254.47, an eight-day high, to 255.91.

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