Good news: Forint broke four-month record, fuel prices below psychological barrier

The Hungarian currency broke the 380/EUR barrier and is currently at the 377/EUR level. That is a four-month record, and experts believe that further strengthening remains an option. Furthermore, fuel prices also went below a psychological barrier this week in Hungary.

According to index.hu, the last time the forint was this strong was in July. That comes after Hungary’s inflation went below 10%, which was one of the big promises of the government during the inflation crisis.

The strengthening of the Hungarian national currency started last week when the Fed excluded further interest rate increases. As a result, the EUR and the HUF both strengthened.

Zoltán Varga, an analyst of Equilor, said the forint might continue to strengthen. The next possible level is 375/EUR.

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Meanwhile, consumers got good news from another segment of our economy: fuel. According to holtankoljak.hu, fuel prices continued to decrease in Hungary. Gasoline prices went down by HUF 8, while that figure is HUF 5 in the case of diesel. The average price of 95 gasoline in Hungary stands at HUF 597/l, while that is HUF 626/l in the case of diesel.

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• Brutal hike: MOL CEO shared how much fuel prices will increase in Hungary!  – Check out the details HERE