Hungarian Forint Continues To Weaken
- 6 Jan 2015 8:00 AM
The forint weakened further on Monday, hitting Ft 320.83 per euro in the morning but returning to 318.25 in the afternoon. The daily low is only 1% off the all-time low against the euro of Ft 324.2. The forint sank to its lowest level against the dollar in 10 years at one point, trading at Ft 266.56.
The rapid weakening of the forint began in December, as the currency fell from Ft 305 per euro. The 5% drop last month is a greater decline than among peer currencies in the region, said currency trader Pál Saághy of Equilor brokers. The forint weakened in parallel with the Russian rouble, he added.
Source: Hungary Around the Clock
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