iBanFirst, a provider of foreign exchange and international payment services, reported a 118% increase in forward contracts among Hungarian clients in the first 10 months of 2024, rising from EUR 22.4 million to EUR 49 mln compared to the same period last year.
This growth positions Hungary as the fastest-growing market for forward contracts among the 10 European countries where iBanFirst operates.
Hungarian companies primarily require euros and U.S. dollars for international payments, with a growing use of Chinese yuan and Romanian leu, reflecting trade relations with Asia and neighboring countries.
Key payment destinations include Germany, Austria, and China, whil e Romania, Slovakia, and Poland are among Hungary’s top trading partners for both imports and exports.
Producing journalism that is worthy of the name is a costly business. For over 30 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.
