Forint weakens as investor concerns grow

MNB

The forint traded at 240.86 to the Swiss franc late Thursday, weakening from 233.76 on Wednesday as concerns grew about the eurozone debt crisis. 

The forint was still far from rates in the previous week, when it slipped past 270 to reach a historical low against the Swiss currency.

Much of Hungarian banks' retail loans are denominated in Swiss francs, and repayments on these loans rise when the forint weakens to the franc.

The forint traded at 272.74 to the euro late Thursday, softening from 268.72 on Wednesday

The forint slipped to 190.80 from 185.54 against the dollar.

On the secondary market for government securities, benchmark yields were down 17-21 basis points for terms over a year.

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