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Hungarian Forint at Strongest Level in Months

• 11 Nov 2023 9:21 AM
• Hungary Around the Clock

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.

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