ÁKK noted that it had pre-financed the bond with a foreign issue last November. The €1 billion bond in question was issued in January 24 with a 4.5% annual coupon and expires today.
“We consider rumor-spreading akin to malevolent scare-mongering that negatively affects markets,” ran the official statement in part. “We’ll take the necessary steps if needed.”
After tumbling past a rate of HUF 306 to €1 along with other emerging-market currencies due to a surprisingly aggressive rate hike by Turkey’s central bank but recovering before 11am CET, the forint weakened past HUF 310 to €1 by 2:30pm CET Wednesday to plummet to its lowest rate in more than two years.
– material from MTI was used in this article
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