Hungarian forint strengthens against the euro
Every day, the forint is getting stronger against the euro, moving further away from the lows.
At the beginning of the week, one euro cost 400.2 forints.
However, by 7 AM on Wednesday morning, the EU currency cost 394.26.
The dollar, on the other hand, has strengthened, from 374.1 forints last night to 375.74 on Wednesday morning. The forint has also weakened against the Swiss franc, going from 387.05 a franc last night to 388.03 this morning, according to naphire.hu.
The exchange rate is holding steady for the time being, without any major swings. Last week, the euro crossed the psychological barrier of 400. The Hungarian government has argued that the weakening against the euro has external causes, index.hu reports.
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Source: naphire.hu, index.hu
Let’s look at some numbers … The price of petrol is now fixed at HUF 488,right?
On June 23, 2010 – HUF 488 = EUR 1,74
On June 23, 2019 – HUF 488 = EUR 1,51
On June 23, 2020 – HUF 488 = EUR 1,39
On June 23, 2021 – HUF 488 = EUR 1,40
On June 23, 2022 – HUF 488 = EUR 1,23
“External causes” – of course. But noteworthy trend, and not one created yesterday! Lost another member of staff yesterday – accepted a job in Austria (where they pay Euro…). If you can – great move, right? More than 10% raise, based on FOREX alone.
https://fxtop.com/en/historical-currency-converter.php