Forint plummets to over 403 against euro, hitting 2-year low

On Wednesday afternoon, the Hungarian forint dropped to over 403 against the euro, marking its weakest level since September 2022 as the currency continued to decline on international markets. The forint is also struggling against the US dollar, hitting similar lows.

Hungarian forint plummets to two-year low

Although the forint saw slight gains in the morning, it began to weaken by midday, with the situation worsening in the afternoon. By 6:45 PM, the exchange rate had dropped to 403.29 forints per euro.

According to Portfolio, trading on the Hungarian stock exchange was halted due to the 23 October national holiday, making the currency more vulnerable to fluctuations.

Just two weeks ago, the forint had also surpassed the 402 mark, hitting a rate of 402.23 against the euro.

The forint crossed the 400 threshold on 4 October for the first time in six months, following a decline that began on 2 October as a reaction to the conflict in the Middle East.

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