Grexit Would Hurt Hungarian Forint In Short Term
- 29 Jun 2015 9:00 AM
The forint and Poland’s zloty would be the Eastern European currencies most affected by a Greek exit from the euro, as these countries’ bond markers have highest percentage of foreign investors, according to analyst András Balatoni of ING bank. These currencies will weaken for a short period as foreigners sell their forint and zloty denominated bonds, he added.
The forint exchange rate might hit Ft 315 per euro, but the forint will recover in the long term, because Hungary’s vulnerability has been reduced in recent years, Balatoni added.
Source: Hungary Around the Clock
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