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Forint Hits 18-Month High

• 20 Nov 2025 6:45 AM

By early Wednesday evening, the euro's exchange rate approached 381 Forints, marking an 18-month high for the Hungarian currency. The euro stood above 384 Forints on Wednesday morning, but the Forint began to strengthen steadily from 11 AM, with the rate falling below 381.7 Forints just before 7 PM.

According to a report by Portfolio.hu, the strengthening is likely related to the Monetary Council of the Hungarian National Bank (MNB) deciding once again on Tuesday not to cut the base rate.

This decision signals to investors the central bank's commitment to maintaining the currency's value.

The Forint had already broken the 18-month high once before, on November 10, when the euro traded at 383.2 Forints.

However, the exchange rate fell again after news reports emerged that the government was preparing to increase the bank tax and anticipating a larger budget deficit due to promises made during the election.
 

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