Forint briefly rises above 245 to Swiss franc

Competition

The forint continued to weaken as a result of growing global debt fears on Tuesday morning's interbank market, spiking to an all-time weakest 245.77 against the Swiss franc at 9:35 a.m.

The forint was trading at 269.40 to the euro and 243.94 to the Swiss franc at 9:45 a.m., compared to rates of 268.73 and 242.08, respectively, at around 6:00 p.m. on Monday.

Dealers attribute the forint's weakening to a rise in risk-aversion among traders stemming from fears that the US debt-ceiling compromise may be flawed and of spreading euro-zone debt crises.

The forint also weakened to the US dollar on Tuesday, trading at 189.92 to the USD at 9:45 a.m., compared to a rate of 189.10 at around 6:00 p.m. on Monday.

ADVERTISEMENT

Reforms to raise productivity would strengthen recovery - OE... Analysis

Reforms to raise productivity would strengthen recovery - OE...

Meeting called to address Pegasus spyware lacks quorum  Parliament

Meeting called to address Pegasus spyware lacks quorum 

Skanska commercial dev unit names new EVP of operations Hung... Appointments

Skanska commercial dev unit names new EVP of operations Hung...

Zsa Zsa Gabor's ashes buried in Budapest City

Zsa Zsa Gabor's ashes buried in Budapest

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.