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Forint slightly dizzy, but not ill

The forint traded at 287.50 to the euro late Monday, firming from around 288 late Friday, when it weakened on announcements by rating agencies.

The forint slipped past the 288 mark on Monday, even as other currencies in the region firmed.
Moody's on Friday placed Hungary's sovereign rating on review for downgrade and Standard and Poor's revised its outlook for the country's rating to negative from stable.

The forint traded at 221.15 to the dollar late Monday, firming from 224.32 on Friday. On the secondary market for government securities, benchmark yields were little changed for terms over a year. (MTI)