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Forint Hits Eight-Month Low

picture of exchange rates

The Hungarian forint is trading at 367.07 Ft against the Euro and 320.78 Ft. against the dollar, an eight-month low, and at a 19-month low against the Swiss franc, reports Index.

Behind the weak exchange rate for the Hungarian currency at the moment is a stronger US dollar as well as the recently-announced cap on fuel prices in Hungary.

In addition, the markets are uncertain about the extent to which the Monetary Council of the Hungarian National Bank will raise the key interest rate at next week’s meeting.

According to analysts at Portfolio, the market is very uncertain about whether the Hungarian central bank will implement effective interest rate hikes or not, similar to regional central banks.



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Posted in Economy

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