After a huge fall, the Hungarian forint rebounded on Monday

The Hungarian forint had a good run last week. The currency even broke a nine-month record, going below 380 against the euro. On Friday, however, this rally stopped and the forint started weakening. It seems like during the weekend, the Hungarian currency had a good rest and started the new week with renewed vigour.

Last week, a euro was worth less than HUF 380 on the interbank foreign exchange market. However, by Friday, the forint had plummeted, with the rate reaching 386, Forbes reports. The exchange rate then corrected and has been hovering around the 383 level ever since. Just before 9 AM this morning, the EUR/HUF exchange rate was at 383.9. The forint is trading around the previous trading day’s (Friday’s) evening rate against the dollar as well. At 11.35 AM, the USD/HUF exchange rate is 358,54.

At around 2 PM, the forint was trading at 382.82 against the euro. In the case of the US currency, it was 358.31.

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Source: Forbes.hu