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Forint Hits Strongest Level So Far In 2021

• 19 May 2021 9:47 AM
• Hungary Around the Clock

The forint continued to gain ground against major currencies this week after MNB deputy governor Barnabás Virág hinted on Monday that the central bank may raise rates at its June rate-setting meeting.

After his comments, the forint surged to its strongest level in nine months against the euro at 351 and to below 289 versus the dollar, for the first time in two years.

On Tuesday the forint advanced to 350.5 against the euro and to 287.33 versus the dollar.

The Hungarian currency has appreciated by 4.8% against the euro and 7% against the dollar from peaks of Ft 369 and Ft 311 earlier this year.

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