Forint at 1-year peak against the American dollar!

The American dollar continued to fall last night and today. Therefore, the Hungarian forint reached a 1-year peak against the US national currency.

However, the Hungarian currency was not strong enough to beat the euro. The forint-euro exchange rate was around 374.3 this evening, which means the forint could not regain its strength acquired earlier this year. But it could strengthen to 332.6 against the dollar following a long strengthening period. Now it stands at 333.35.

Today and yesterday, the weakening of the American currency helped the forint. The euro-dollar exchange rate is around 1.12 now. That is the highest since February 2022.

A week ago, some experts talked about a 400 EUR/HUF exchange rate. But the Hungarian national currency could strengthen a lot in the last few days, portfolio.hu wrote. That is partly why it could reach a 1-year peak after the announcement of the better-than-expected American inflation statistics.