• Home
• Channel: Finance
• Hungarian Forint Was Top Performer in August

Hungarian Forint Was Top Performer in August

• 6 Sep 2021 11:20 AM
• Hungary Around the Clock

The forint was the best-forming currency globally in August, a result of the MNB’s monetary tightening policy, Portfolio writes.

The MNB’s second rate hike in July convinced investors that it is serious about bringing down inflation, according to the business news website.

The central bank began a monetary tightening cycle at the June meeting, raising rates by 30 basis points, which was followed by identical hikes at the next two sessions.

The forint appreciated more than 2% against the dollar and the euro last month.

It has posted bigger monthly gains than this only five times in the past ten years.

As the forint has weakened some 0.8% this year, it would be well in the red without the particularly strong performance in August.

The next technical level to watch in the euro-forint pair is 345, which would be a one-year high.


MTI Photo

• How does this content make you feel?
• I love it
• I like it
• I dislike it

• Hungarian Forint

XpatLoop Media Partner

Hungary Around the Clock

Since 1995 Hungary Around the Clock has proven to be one of the most comprehensive sources of daily English-language news about Hungary. It covers ongoing domestic politics and foreign relations, as well as business and economic matters. For a free trial of HATC visit www.hatc.hu and click on 'Free Trial Subscription’.

Explore More Reports

Official: Economy in Hungary Expected to Grow by Only 2-3% This Year - Strategy Revealed

• 26 Mar 2024 11:54 AM

Márton Nagy, the national economy minister, has said the government expects the economy to grow by2-3% this year.



Hungarian Forint Weakened Against Euro Hitting Lowest Point in 12 Month

• 5 Mar 2024 5:41 AM

The forint weakened at one point to 396.80 per euro yesterday, hitting a 12-month low not seen since March of last year.



S+P Analysts Expect Transfers of Withheld EU Funding to Hungary Soon

• 11 Dec 2023 1:12 PM

S+P Global Ratings has affirmed Hungary’s investment grade rating in spite of the war and the energy crisis caused by sanctions policies, the Finance Ministry said.



Is High Inflation in Hungary Really Caused by the War in Ukraine?

• 13 Nov 2023 6:40 AM

Consumer prices in Hungary were 16 percent higher in August than a year earlier, as the Hungarian government continues to talk of wartime inflation.