Forint Strengthened to Ten-Month Record

  • 1 Mar 2023 6:44 AM
  • Hungary Around the Clock
Forint Strengthened to Ten-Month Record
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.

  • How does this content make you feel?

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