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Forint recovers on Tuesday morning

The forint gained against the euro on Tuesday morning, trading at 269.98 shortly after 10 am, after falling sharply on Monday.

Dealers said the announcement of further details regarding the government's planned program to assist troubled forex loans holders could influence forint rates.

But news of a looming debt crisis in Eurozone periphery countries continues to mostly impact the outlook on the Hungarian currency, traders said.

The forint traded at 191.82 to the dollar on Tuesday morning, compared to a Monday afternoon rate of 193.00. The Swiss franc eased to 217.54 from 218.69 Monday afternoon.