Hungarian Forint at Strongest Level in Months

  • 11 Nov 2023 9:21 AM
  • Hungary Around the Clock
Hungarian Forint at Strongest Level in Months
The forint strengthened to 377.6 per euro on Thursday, its strongest level in more than three months, Portfolio observes.

The Hungarian currency managed to break through a strong resistance level at 378 against the euro, which, based on technical analysis, opened the way for further strengthening potentially to 373 per euro.

Today’s release of October inflation data might influence the development of the exchange rate, the website notes.

Analysts polled by Portfolio on average forecast 10.3% year-on-year inflation for October.

MNB deputy governor Barnabás Virág spoke of a 10-10.5% figure earlier this week.

  • 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’.

  • Budapest Is Bankrupt, Finance Minister Announces

    Budapest Is Bankrupt, Finance Minister Announces

    • 19 Jun 2024 11:56 AM

    The municipal court of appeals of Budapest has ruled that the city of Budapest cannot be exempted from certain tax payments, the finance minister said on Facebook on Tuesday, adding that the treasury had already collected 2 billion forints (EUR 5m) in tax arrears from the city’s account.

  • Record Net Profit in Q1 Reported by Banks in Hungary

    Record Net Profit in Q1 Reported by Banks in Hungary

    • 6 Jun 2024 11:14 AM

    The unconsolidated net profit of Hungarian banks was up 26% year-on-year to a record Ft 499 billion in the first quarter, largely driven by foreign dividend income and the halving of the extra profit tax, according to data from the MNB.

Enjoy more

finance CHANNEL SPONSOR

Share your story

We're interested in your stories, and photos, related to expat life in Hungary. Your contributions, and Press Releases, are invited for review before publication in the loop.

Newsletter

get in & enjoy more!

XpatLoop’s newsletter contains a hand-picked selection of fresh news, special invitations, events, movies, and more.

I understand & accept the Privacy Policy