Forint Plumbs New Lows Against Euro
- 4 Oct 2022 7:19 AM
- Hungary Matters
The forint traded at 427.26 against the dollar around 5:30, firming from 430.48 late Friday.
It strengthened to 430.65 from 438.71 to the Swiss franc.
The forint traded at 427.26 against the dollar around 5:30, firming from 430.48 late Friday.
It strengthened to 430.65 from 438.71 to the Swiss franc.
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The Monetary Council of the National Bank of Hungary (NBH) decided to cut the central bank base rate by 25bp to 5.75pc at a monthly policy meeting on Tuesday.
Hungary is committed to adopting the euro and aims to meet the Maastricht convergence criteria by 2030, Finance Minister András Kármán said in a Facebook post on Monday.
The forint strengthened to five-year highs on Monday, with the euro briefly slipping below Ft 350 on the interbank market, following the announcement of a possible end to hostilities between Iran and the US.
Fitch Ratings affirmed Hungary's 'BBB' long-term issuer default ratings with a negative outlook at a scheduled review on Friday.













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