Doubts Over EU Funds Weaken Hungarian Forint
- 15 Sep 2022 7:24 AM
- Hungary Around the Clock
After an oscillation in the morning, the forint started to weaken on Wednesday afternoon from 404 to 406 per euro, and 407 per dollar, Portfolio observes.
The continued fall of the American stock markets is not good for the forint, the website adds.
The situation is exacerbated by reports during the day that EU funds may be withheld from Hungary.
Furthermore, European Commission President Ursula von der Leyen vowed in her State of the Union speech yesterday that she will protect the EU budget within the framework of the rule of law procedure.
These together may keep the forint under pressure, and it is clear that the forint is once again beginning to split from other regional currencies, reports indicate.
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