Forint weakens after MNB announcement

History

The forint traded at 311.39 to the euro around 5:30 in the evening on Tuesday, weakening from 308.81 on Monday.

The forint softened after the National Bank of Hungary said it would change its main sterilisation instrument to a three-month, rather than a two-week, deposit in an effort to make government securities more attractive to banks.

Even as it weakened against the euro, the forint firmed to 280.06 from 283.34 against the dollar.

It softened to 299.93 from 299.34 against the Swiss franc.

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