Forint Under Pressure Again

  • 15 Oct 2020 9:07 AM
  • Hungary Around the Clock
Forint Under Pressure Again
The Hungarian currency shed 2% of its value against the euro this week due to fears of the economic impact of the second wave of the pandemic, HVG reports.

The forint has lost its gains last week, when it strengthened from 361 per euro to 356. By Wednesday night one euro bought Ft 363.4.

Regional currencies are also falling, as new Covid-19 cases are surging in Poland, and the Czech Republic, where new restrictions were imposed. Investors deem these currencies as high-risk assets.

The Hungarian government has made it clear that it wants the economy to function, unlike in the spring when the country went into a lockdown.

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