Are you sure?

Forint slips past 263 against Swiss franc

The forint weakened past 263.50 to the Swiss franc late in the morning on Tuesday to reach a new historical low.

The forint's previous low, reached early Tuesday morning, was 260.86.

The forint softened after losses on American and Asian markets as the effect of Standard and Poor's downgrade of the United States' sovereign rating spiraled.

Much of Hungarian banks' outstanding retail lending stock is denominated in Swiss francs.