Forint stable versus euro, gains in dollar

Competition

The forint was trading at 296.79 to the euro late Tuesday on the interbank forex market, a hair up up from 296.85 late Monday. At 296.73 to the euro early Tuesday, the forint moved between 295.79, a 15-month high, and 296.94.

The euro corrected up against the dollar on Tuesday as the market has already priced back a summer Fed tightening into the cross since early last week, and Tuesdayʼs upbeat US retail and producer price data only confirmed Fed expectations.

With the euro gaining against the dollar also on strong euro zone industrial data, and ECB statistics on improving lending environment in the euro area, the Hungarian currency hugged its recent gains versus the euro and, with its help, recuperated some of its recent losses against the dollar.

The forint was also helped by fresh Hungarian current account figures which showed its surplus grew in February on strong exports, and a regular auction of three-month Hungarian Treasuries with falling yield.

The forint traded at 278.01 to the dollar, up from 280.91 late Monday. On Tuesday, it moved between 276.84, a five-day high, and 281.71, after a three-week low on Tuesday at 282.95.

It was quoted at 286.45 to the Swiss franc, up from 287.18 late Monday. Its range on Tuesday was 285.11, a four-day high, to 287.88, a ten-day low in the morning. Since its crash to an all-time low at 378.49 on January 15 when the Swiss central bank scrapped its cap of 1.20 to the euro, it reached the highest at 281.07 on February 26.


ADVERTISEMENT

Consumer price levels below EU avg in 2020 Analysis

Consumer price levels below EU avg in 2020

Lawmakers approve 2022 budget Parliament

Lawmakers approve 2022 budget

Breast cancer screening at Dr. Rose Private Hospital Interview

Breast cancer screening at Dr. Rose Private Hospital

Budapest launches revamped coupon card for visitors City

Budapest launches revamped coupon card for visitors

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.