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 forint weakened at one point to 396.80 per euro yesterday, hitting a 12-month low not seen since March of last year.
The number of counterfeit euro banknotes found in Hungary rose sharply last year, Világgazdaság reports.
While Hungary has fulfilled requirements on judicial reform, the EU will continue to withhold some 20 billion euros of cohesion funds until other concerns are addressed, Ursula von der Leyen, the European Commission president said.
The European Commission has transferred 140.1 million euros to Hungary in REPowerEU pre-financing grants under the post-pandemic Resilience and Recovery Facility (RRF).
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