Forint strengthens sharply to Swiss franc following establishment of CHF-EUR rate target

MNB

The forint strengthened sharply against the Swiss franc on Tuesday morning's interbank market after the Swiss National Bank announced that it has set an exchange-rate target at 1.20 francs to the euro.

The forint traded at 229.59 to the CHF at 10:20 a.m., compared to a rate of 251.91 at around 4:00 p.m. on Monday.

The forint also strengthened against the euro and the US dollar on Tuesday morning, trading at 276.37 to the EUR and 194.90 to the USD at around 10:20 a.m. Tuesday, compared to rates of 278.50 and 197.47, respectively, at around 4:00 p.m. on Monday

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