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Forint briefly rises above 245 to Swiss franc

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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.

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