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Forint strengthens on interbank market

The forint strengthened on Wednesday morning's interbank market, trading at 276.97 against the euro, compared to a Tuesday-afternoon rate of 277.78.

Dealers say that the forint and other central and eastern European currencies have been strengthening moderately since Tuesday as a result of an improvement in sentiment with regard to the euro-zone's financial stability. Dealers add that the outcome of Portugal's government-bond issue on Wednesday is likely to exercise an impact on the market's outlook.

The forint traded at 213.10 to the dollar on Wednesday morning, compared to a Tuesday-afternoon rate of 215.04. The forint traded at 218.75 to the Swiss franc on Wednesday morning, compared to a Tuesday-afternoon rate of 220.38. (MTI Econews)