Forint down on the stronger dollar

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.

Innovation

Minister Points to Need for Promoting Use of AI Among Businesses

Figures

IMF Growth Projections Put Hungary Among EU Frontrunners

HR

The New Benchmark for Success

Government

Floods – Orbán Postpones All Int’l Obligations

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For over 30 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.