Forint softens on interbank market
The forint was trading at 311.62 to the euro at 5:30pm on Tuesdayʼs interbank forex market, down from 311.08 late on Monday. The forint softened to 278.03 from 276.61 against the dollar. The forint traded at 286.03 to the Swiss franc weakening from 285.27 on Monday.
The weakening of the forint was a reaction to the Monetary Councilʼs decision of the National Bank of Hungary to cuts its base rate to 1.20% from 1.35% on Tuesday.
The forint reached its lowest intra-day point on the interbank market shortly after the MNBʼs rate-setting meeting. Before the meeting the forint was trading around 311.34 to the euro, after the meeting it jumped to 313.13. Against the dollar the forint moved from 277.40 to 278.98 and against the Swiss franc from 285.84 to 287.28.
ADVERTISEMENT
ÁKK Cutting Premiums on PMÁP
Parl't Approves Amendments to Legislation on Judiciary
Magnus Aircraft Signs CNY 65 mln Order
Accommodation Fully Booked Over Pentecost Weekend
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.
.jpg)
