• Coronavirus in Hungary
  • Budapest
  • Hungary border control
  • HelloMagyar
EnglishFrenchGermanSpanish
EnglishFrenchGermanSpanish
Forint Rate Impacted by Russia-Ukraine ConflictForint Rate Impacted by Russia-Ukraine ConflictForint Rate Impacted by Russia-Ukraine ConflictForint Rate Impacted by Russia-Ukraine Conflict
  • Politics
  • Business
  • Society
  • Sport
  • Culture
  • Special Hungary
  • News To Go
  • World
  • Contact Us
  • About us
  • About us
  • Contact Us
  • Privacy Policy
✕
Breaking News
Support us
Daily News Daily News · 29/08/2014
· Business

Forint Rate Impacted by Russia-Ukraine Conflict

forint Ukraine

Budapest, August 29 (MTI) – Fluctuations in the rate of the Hungarian currency on Thursday and Friday were clearly related to developments in the conflict between Russia and Ukraine, Quaestor analyst Peter Mester told MTI, adding that he expected that tendency to continue next week.

The forint on Friday morning weakened nearly to 316.5 against the euro before starting to firm. Further strengthening of the euro was hindered by low annual inflation and high unemployment in the euro area, as well as a “technical barrier” against the forint at the 316-317 level, the analyst said.

The forint fell 1 percent on Thursday afternoon to trade at levels seen three weeks ago.

Mester warned that the forint could further weaken in the next 6-12 months, in wake of a “war of sanctions” between Russia and countries of the West. A significant strengthening of the forint could only be expected if the situation in eastern Ukraine should ease considerably, and the US Federal Reserve postponed an expected hike of its base rate, he added.

At noon on Friday, the forint traded at 315.72 against the euro, 239.60 against the dollar, and at 261.82 against Swiss francs.

Source: http://mtva.hu/hu/hungary-matters

forint Ukraine
Share
Daily News
Daily News

Leave a Reply

Your email address will not be published. Required fields are marked *

SUPPORT US

Subscribe to our newsletter

Sign up to receive daily updates, news & stories about Hungary!

Select your location below or enter your country so we can deliver our morning newsletters to you in time.


Thank you!

You have successfully joined our subscriber list.


.

Latest news
  • What happened today in Hungary? 26 January, 2023
  • Hungarian economy will skyrocket in 2024?
  • Hungarian green party calls for a referendum on the establishment of battery factories
  • Budapest ranked 7th best cultural destination in the world by Tripadvisor
  • Good news for passengers! Budapest Airport to be renovated
  • The Indian community also celebrated the Republic Day in Budapest – Photo gallery
  • Orbán government loses billions in EU funding
  • A surprising twist! HUF has not done this for a long time

About us

Contact us

Copyright rules

© 2023 DailyNewsHungary. All rights reserved! | Server and development by Svigelj Levente E.V