Could anything save the Hungarian forint?
Change language:
On Monday 13 June, the forint broke all records: the euro rose above 400 forints, even reached 402. Is there still hope that the exchange rate will ever normalise? What could help the Hungarian currency? Read our article to find out.
According to privatbankar.hu, it was known that the euro would reach the 400 level sooner or later. At the end of February, the euro was at 370 forints. Many believe that if nothing happens to save the forint, we could reach 450 in less than 4 months.
The weakest link
More than three months ago, the Hungarian currency was brought down by the fact that the Russian-Ukrainian war made the forint the weakest link for investors in the Central and Eastern European region, and they started speculating against it, writes privatbankar.hu.
For a brief period in April, the euro was worth 366 forints, leading many to false hopes. People thought that they no longer had to worry about the forint, that everything was fine.
Then, at the end of April, the European Commission launched the rule of law procedure against Hungary. This was a sure sign of the forint’s deterioration because it threatened to deprive the Hungarian economy of EU funds.
Recomendation – place a call to Harry Houdini.
You just NEVER know – being the world renowned Hungarian born, escape artist.
BIG challenge that confronts Hungary, that escape from further pain & misery – firmly beleive Harry Houdini – couldn’t escape – whats to come.
Recomendation – place a call to Harry Houdini.
You just NEVER know – being the world renowned Hungarian born, escape artist.
BIG challenge that confronts Hungary, that escape from further pain & misery – firmly beleive Harry Houdini – couldn’t escape – whats to come.