Hungarian forint struggles against EUR 400 exchange rate

For the time being, it seems to have moved a little further away from the EUR/HUF 400 level, but the forint is in a rather unstable condition.

One-month high

The forint reached a one-month high on Wednesday 18 October. In August and September, EUR was already worth HUF 395 and was close to the 400 mark. However, the limit was not met and the forint strengthened slightly.

Exports are strong and import costs have fallen thanks to the normalisation of gas prices and falling consumption.

Positive signs?

Also helping the forint is the fact that hopes are now alive again for the disbursement of EU funds. This means there is a good chance that the forint could remain stable, and if EU funds arrive, the 370 level could become a reality again, economx.hu writes.