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Why Forint Strengthened to Five-Year Highs this Week

• 17 Jun 2026 7:03 AM
• Hungary Around the Clock

The forint strengthened to five-year highs on Monday, with the euro briefly slipping below Ft 350 on the interbank market, following the announcement of a possible end to hostilities between Iran and the US.

The euro traded at Ft 349.9 during the afternoon, its lowest level since June 2021, while the forint also gained against the US dollar and Swiss franc.

Analysts cited the easing of Middle East tensions and a sharp fall in oil prices as key drivers behind the forint’s gains.

On the longer horizon, the forint’ rally began before the parliamentary election, supported by expectations that the government would unlock frozen EU funds.

Among shares, OTP gained 3.2% in value to Ft 43,850 on turnover of Ft 30 billion.
 

On the other side of the coin, falling oil prices pushed MOL’s share price down 1.7% to Ft 3,760.

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