Forint at annual peak against the US dollar!

Hungarian forint has not been this strong against the US national currency this year. A couple of months earlier, it reached historic lows against the dollar and the euro one after the other. Now it is one of the world’s best-performing currencies.

According to 24.hu, the forint reached its highest currency exchange rate against the dollar yesterday evening. We had to pay only a bit more than 338/USD. During the day, it was even below that limit, being 336.93, the lowest. Meanwhile, the Swiss franc cost more than earlier that day. The euro stands at 373.73, which is a fall compared to the morning data. On Thursday, the forint was 6.4 percent stronger against the euro and 9.4 percent higher than the dollar compared to the year-start. In the case of the Swiss franc, that ratio stands now at 5.6 percent.

However, the exchange rate of the Hungarian national currency is very vulnerable. A couple of American bank bankruptcies could shake it weeks ago, and is kept high only thanks to the increased basic interest rate of the Hungarian National Bank, which is currently the highest in the Central European region. That makes financially covering Hungary’s national debt with state bonds considerably expensive.