Forint weakens to all-time low against euro
The forint weakened to an all-time record 319.46 to the euro at around 9:45 a.m. on Wednesday.
The forint subsequently firmed back under 319 to the euro, trading at 318.86 to the single European currency at 10:00 a.m., compared to a rate of 315.45 at 4:00 p.m. on Tuesday.
Dealers attribute the forint’s weakening to uncertainty with regard to Hungary’s possible financial-assistance agreement with the International Monetary Fund and market pressure to amend Hungary’s new central-bank law. Dealers add that the forint is likely to remain under pressure until news regarding a continuation of talks between Hungary and the IMF.
The forint also weakened to the Swiss franc and the US dollar on Wednesday morning, trading at 261.57 to the CHF and a three-year weakest 244.69 to the USD, compared to Tuesday-afternoon rates of 258.80 and 241.77, respectively.
ADVERTISEMENT
MNB Int'l Reserves Rise EUR 579 mln in November
Gov't to Launch HUF 20 bln Workers Hostel Program
Retail Sales Fall 6.5% y.o.y. in October
Heineken Balaton Sound Announces 1st Phase Lineup
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.
