Forint fairly stable on interbank market

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The forint was trading at 313.86 to the euro late Friday on the interbank forex market, up from final quotes at 314.80 on Thursday. At 314.62 to the euro early Friday, the forint moved between 313.65 and 316.16, after more than nine-week lows at 317.37 and 317.20 Monday and Wednesday intraday.

The forint is up 0.31% versus the euro from final quotes last Friday, after shedding 1.37% over the week before. It is up 0.89% from the end of last year, after it lost 6.12% last year, and 1.95% in 2013.

At the end of a difficult week which sent the Hungarian currency to nine-week lows earlier, the forint fared quite stable on Friday, oscillating between minor losses and gains throughout the day, ending the week with a small gain, while the euro also stabilised against the dollar, pulled sideways by China fears and growing expectations for a postponement of the rate hike in the US.

The forint traded at 279.41 to the dollar, up from 279.93 in final quotes on Thursday. On Friday, it moved between 278.65 and 280.60, after a one-week low at 280.80 late Thursday, and a nearly four-month high at 268.89 Monday intraday.

It was quoted at 290.96 to the Swiss franc, down from 289.70 late Thursday. Its range on Friday was 289.69 to 291.36, after a one-month low at 294.64 Wednesday intraday, and a six-day high at 286.50 Tuesday intraday. Since its crash to an all-time low at 378.49 to the franc on January 15 when the Swiss central bank scrapped its cap of 1.20 to the euro, it reached the highest at 281.07 on February 26.

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