Portfolio reported that the euro was trading at 394.8 forints, more than a 3% drop from Tuesday evening. Such a fall in the country’s currency has not been seen for a long time in the foreign exchange market – not even when the war broke out three months ago.

The Hungarian stock exchange fell sharply today following Orbán’s declaration of a war emergency yesterday. The euro was trading at 382 Ft. in the morning, and by 4:00pm had reached 390.

The trading situation was already tense on Wednesday, as there was a lot of anticipation ahead of the decisions expected from the government meeting, and market participants have already started pricing in economic policy measures not friendly to investors. - reports the business site.

After Viktor Orbán published his video message on Wednesday, the forint began to weaken again, and has been continuing ever since.