Hungary's Forint Returns Below Ft 300 Per Euro
- 9 Apr 2013 9:00 AM
The forint strengthened to Ft 296.3 per euro on Monday, its highest level in a month, due to poor US economic data, Napi Gazdaság reports. Monetary easing by the Bank of Japan prompted Japanese investors to buy European bonds, pushing down their yields and strengthening local currencies, according to Concorde brokers.
External events are at least as much a factor in the stronger forint as internal ones, such as the more modest than forecast policy of new MNB governor György Matolcsy, Concorde argues.
The head of the Japanese central bank will earn eternal merits in helping Hungary to finance its debt, Concorde added sarcastically.
Source: Hungary Around the Clock
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