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Forint Strengthened to Ten-Month Record

• 1 Mar 2023 6:44 AM
• Hungary Around the Clock

After the MNB announced that it is maintaining interest rates, the forint began to strengthen and gained 0.7-0.9% on Tuesday.

Half an hour after the announcement, the euro was trading near Ft 376.41 - its lowest level against the forint since May of last year.

The dollar was at Ft 354.62, and the Swiss franc at Ft 378.39.

Investors understood that the MNB is still cautious about interest-rate cuts, and have interpreted the restructuring of the reserve deposit system as a tightening of monetary policy, Portfolio adds.

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