Forint weakens on interbank market
The forint weakened on Tuesday morning's interbank market, trading at 293.40 to the euro at 10:00 a.m., compared to a Monday-afternoon rate of 291.70.
Dealers attribute the forint's weakening to negative sentiment stemming from uncertainty surrounding the Greece's debt crisis and Hungary's expected second-quarter financial-assistance agreement with the International Monetary Fund. Dealers note that other central and eastern European currencies such as the Czech koruna and the zloty have also been weakening on Tuesday morning.
The forint also weakened to the Swiss franc and the US dollar on Tuesday, trading at 243.29 to the Swiss franc and 222.37 to the US dollar at 10:00 a.m., compared to Monday-afternoon rates of 239.77 and 220.60, respectively.
ADVERTISEMENT
MNB Monetary Council Leaves Base Rate on Hold
Hungarian Lawmakers Ratify Finland's NATO Accession
Bureau Veritas Hungary Becomes Certifying Partner of Access4...
HIPA Awards 'Investors of the Year'
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.
