Forint recovers after SNB cuts rate target
The forint strengthened against the Swiss franc on Wednesday morning's interbank market, trading at 245.71 to the CHF at 10:20 a.m., compared to a rate of 246.49 at 5:55 p.m. on Tuesday after the Swiss National Bank announced that it would cut its interest-rate target in order to stem the Swiss currency's further rapid strengthening.
The forint weakened against the euro and the US dollar on Wednesday morning, trading at 272.45 to the single European currency and 190.82 to the USD at 10:20 a.m., compared to rates of 270.42 and 190.05, respectively, at 5:55 p.m. on Tuesday.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 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.