Forint weakens 5.7 pc to euro in year

 Budapest (MTI) – The forint weakened nearly 18 forints or 5.7 percent to the euro between the end of 2013 and 2014, based on the last official fixing of the National Bank of Hungary (NBH). The weakening could affect the targeted reduction of Hungary’s Maastricht-conform year-end state debt.

The official fixing rate was 314.89 forints to the euro on December 31, 2014 as against 296.91 at the end of 2013. Official statistics, among them government debt calculations convert the foreign currency items into forint at the official NBH fixing rates.

The forint weakened by 2.4 percent to the euro from the end of November when the euro traded on average at little below 307 forints.

NBH statistics released on Wednesday showed that Hungary’s Maastricht public debt stood at 80.3 percent of gross domestic product (GDP) at the end of the third quarter this year, as against 77.3 percent at the end of 2013.

Photo: www.infoszfera.hu

Source: http://mtva.hu/hu/hungary-matters