A surprising twist! HUF has not done this for a long time
The Hungarian forint strengthened against all major currencies on Thursday, with the last time it was at a similar exchange rate to EUR 1 was in May 2022.
The forint strengthened against the major currencies on Thursday morning compared to Wednesday evening. The euro was HUF 386.51 at 7 a.m., while the Swiss franc was HUF 385.97. One dollar costs 354.3 forints, index.hu reports.
According to Trandingview, the last time the euro was HUF 386 was on 17 May 2022. The forint has been strengthening steadily after the Magyar Nemzeti Bank’s interest rate decision.
According to Dávid Németh, senior macroeconomic analyst at K&H Bank, the main reason behind the strengthening of the forint is the central bank’s tightening measures. Analysts say the increase in the reserve ratio was an important and expected move.
Read alsoHidden wealth of Hungarian government-connected circles exposed
Source: index.hu, Trandingview
please make a donation here
Hot news
Surprising turn: The most expensive street in Hungary was at Lake Balaton instead of Budapest in 2023
MÁV imposes extraordinary order due to brutal snowfall in Hungary
Aeroplex inaugurates aviation components repair base near Budapest Airport
Hungarian far-right Mi Hazánk protests against inviting Israeli PM Netanyahu after ICC arrest warrant
“It was a deliberate and violent murder” – Parents of murdered American woman share update
Median wage shockingly low, half of the Hungarians get less than EUR 875/month net
1 Comment
10 months is really a “long time”.