The forint weakened to 272.50 on Tuesday afternoon from 270.20 on Tuesday morning as a result of the market’s reaction to the government’s debt-reduction package announced at Tuesday midday and of lingering fears that political upheaval in North Africa and the Middle East will trigger oil shortages.
Dealers note that optimism with regard to the government’s package had propelled the forint to a gain of more than 3% against the euro since the middle of December.
Dealers predict that global market-sentiment will exercise the primary impact on forint rates on Wednesday.
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