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According to a forecast by Amsterdam-based multinational banking and financial services company ING, the Hungarian forint is set to weaken further against euro, with an exchange rate above HUF 340 for a single euro incoming in Q1 2020, news site index.hu reports, based on information from business daily Világgazdaság.
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Research by Eurostat on household expenditures across the European Union in 2018 reveals that Hungarians spend a larger than average proportion of their expenses on food; alcohol and tobacco; fuel and maintenance of personal transport; and communications.
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The forint weakened against the euro on the interbank market on Tuesday morning to a new record low of 337.2.
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London-based fintech company Revolut announced reaching 250,000 users in Hungary, registering an eightfold increase in monthly transaction value since the beginning of the year, according to a press release.
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Hungary has not taken action to comply with European Council budget recommendations, the European Commission said in a report released on Wednesday.
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Rate-setters of the National Bank of Hungary left the base rate unchanged at 0.90% and the central bank O/N deposit rate at -0.05% at a regular meeting.
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