Weak forint strong incentive for Slovak shoppers

Crops

As the forint slipped to record lows against the forint last week, Slovakians flocked across the border to do their shopping in Hungary, Hungarian language Slovakian daily Uj Szo said on Monday.

Slovakians, who adopted the euro in 2009, could save up to 40% on groceries and as much as 50% on clothing by doing their shopping at Hungarian stores at the weekend instead of at home, the paper said. A count of number plates in the parking lot of Tesco in Komarom, across the Danube from Slovakia, revealed two-thirds were from Slovakia.

Slovakian business daily Hospodarske Noviny said turnover in Slovakian shops near the border had dropped 25-40% as shoppers took advantage of exchange rates.

The forint weakened to 324.27 to the euro on Thursday, a new historical low. The currency traded around 313 to the euro on Monday.

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