Constant strengthening is tiring: the Hungarian forint today
After strengthening earlier in the week, the forint has weakened significantly in recent days. On Friday morning, the exchange rate fell sharply again, with the dollar and the euro becoming more expensive. However, on Friday afternoon, the forint showed that it had one last push in it for this week. A summary of the path of the Hungarian forint this week.
The forint started to strengthen at the beginning of the week. It even reached a nine-month high against the euro on Wednesday morning. After that, the trend reversed and the Hungarian currency started to weaken, Index reports. From around 378-379 on Wednesday morning, it weakened back to 384 by midnight on Thursday.
Then came another weakening on Friday morning. The exchange rate started to fall shortly before 9 AM. The forint even briefly broke above 387 against the euro. A small correction then took place, and the exchange rate is still fluctuating. At around 2 PM, the EUR/HUF exchange rate was 386.62. At around 4.45 PM, the euro was trading at 384.59 forints after a small gain.
The fall of the forint against the dollar has been even more spectacular in recent days. The US currency was cheapest on Tuesday afternoon. Then, it was available for 351-352 forints. However, on Friday morning the exchange rate shot up to over 364. At 2.17 PM, the dollar/forint exchange rate stood at 363.87. After a small gain here as well, at 5 PM, the dollar was at 360.51.
Then, in the early evening hours, the forint started a strengthening trend again. At 7 PM, the EUR/HUF exchange rate was at 383.53, the USD/HUF was at 359.04. Just before publishing this article, at 8.25 PM, the USD/HUF exchange rate was at 358.80.
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Source: Index.hu