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Forint little changed on interbank market

The forint was little changed on Thursday morning's interbank market, trading at 264.00 against the euro at 10:00 a.m., compared to a Wednesday-afternoon rate of 264.03.

Dealers attribute the forint's strengthening over the past couple of days to an increase in risk-appetite among traders and the market's increasing confidence in Hungary's budgetary stability. Dealers add that the forint does not stand to gain further from the latter factor, thus fluctuations in global market-sentiment are likely to exercise the greatest impact on the Hungarian currency over coming days.

The forint traded at 180.50 to the dollar on Thursday morning, compared to a Wednesday-afternoon rate of 181.76. The forint traded at 204.51 to the Swiss franc on Thursday morning, compared to a Wednesday-afternoon rate of 204.18.