Forint hits new low against the euro as exchange rate surges past 413
On Wednesday afternoon, the Hungarian forint hit a new low, with the euro exchange rate surpassing 413 EUR/HUF. The currency’s value plummeted to 413.4 before settling slightly at 412.9 by 5 PM. This marks a new milestone, breaking the two-year low set earlier in the week when one euro cost HUF 412.5.
The decline comes amid a drop in European stock markets triggered by a further dip in Germany’s consumer confidence index, Portfolio reports. While the U.S. dollar weakened, economic challenges in Europe heavily impacted the forint, pushing it to this unprecedented level.
The Hungarian currency also showed significant losses against the Polish zloty, reflecting Hungary’s widening economic gap within the region.
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Featured image: depositphotos.com
Sell your forints. Buy USD and Euros. Anticipate much higher inflation. Import prices are going up.
Finance Minister – Mihaly Varga, stands in Parliament on Tuesday, and outlines the 2025 – discloses – the Fidesz Governments 2025 Budget.
Varga, the “principle” catalyst, in the Decline – the on-going EROSION of the Hungarian Economy.
Who & How – just the funding of the PROMISES again, made in Varga “presentation” the obtainment, of what Varga “mouthed” out – near IMPOSSIBLE, in the “plunging” Hungarian Economy.
Mihaly Varga – in a “real ” world, a country functioning under and practicing Governed under DEMOCRACY, this embarrassment, and the longer he remains the Minister of Finance the DISCLOSURE of his incompetence GROWS – this “dud” would have long been SACKED.
How many “Games of Chess” – attempts, all that factually have been gargantuan FAILINGS, that have DEEPENED the “plight” of Hungary – Economically & Financially, when – in the Fidesz Government, are they going to REMOVE – Mihaly Varga ???
That can’t HAPPEN, he is a “Founding Father” of Fidesz – bet that’s very much “in there” – why he “still” warms the seat.
The 2025 Budget will be near un-achievable – and that’s just from a “quick” examination of it.
Pity HELP what the “Surgically” conducted on it will PRESENT.
The POWER of the downward PLUNGE – that continues to SMASH the Hungarian Economy – the Forint an OBVIOUS example, is un-stoppable.
PRESSURIZATION on the Hungarian Economy, muchly the “Blue Print” of the Minister of Finance – Mihaly Varga and “co-signed” by the present Prime Minister – Victor Mihaly Orban – the “Game of Chess” – the on-going FAILINGS – manipulation, changes, attempts – to GROW – the Hungarian Economy has been a continuous DISASTER.
WHERE is the added RICHNESS – increased bottom line WORTH of Hungary been achieved by the Varga POLICIES ?
Varga – has not in MILLIONS of the lives of Hungarians, in cities, towns, villages and “growing” numbers of hamlets, in millions – he has NOT increased the forints in there pockets, improved there quality of life – “shored up” there FUTURE by “zoning ” in on them, granting them robust support.
Varga, is instrumental, from the Ministerial Portfolio he has WORN for the greater part of the 16 years – the RESPONSIBILITIES of his Portfolio, that we Hungary – have been Governed by the Orban – Fidesz Government – this Minister of Finance is responsible in the “placement” of 1.1 million Hungarians living in POVERTY.
HOW has he SURVIVED ?
The 2025 Hungarian Budget – if “Pigs could Fly” – it’s PROPAGANDA – to win votes, paint pictures that will NEVER Happen – that will be PROVEN as another – Lie & Un-Truth – presented to Hungary, arising, coming out of the Orban led Fidesz Political Party, that have FAILED us individually and our Country – Hungary.