Spontaneous euroisation continues in Hungary: people tend to choose foreign currency savings
Those Hungarians who earn enough to save money monthly no longer believe that the forint is a safe currency. Therefore, the majority of them would opt for foreign currency savings. Interestingly, a new survey found that the rate of Hungarians able to save money is surprisingly high.
Almost 50% of the Hungarians have a term life insurance
According to a representative survey conducted by the 21 Research Center and Portfolio, 57% of Hungarians would put their savings in foreign currency instead of the Hungarian currency. 46% of the Hungarians have term life insurance because they would like their families to remain financially secure provided they pass away. The second most popular type of money-saving is health insurance, while the third is the different pension plans. The 21 Research Center and Portfolio surveyed 1,000 people online, but they said that the results are representative concerning age, gender, occupation, etc.
46% of the respondents said they save money on a term life insurance account: the rate is a bit higher among men than among women. Of course, such savings are rare among young people, but almost 60% when it comes to those in their 50s. The second most popular money-saving method is health insurance (27%), while the third is pension plans (23%). 16% of the respondents said they had life insurance.
According to the survey, higher-qualified Hungarians are more likely to save money, and 59% of the respondents said they decided to start an insurance without any outside influence (bank, agent, etc.).
Hungarians would choose foreign currency to save money
According to the survey, the forint is no longer a great option for money-saving purposes. 25% of the male respondents and 20% of women said that they would only save money in a foreign currency, which, in Hungary, means the euro or the American dollar. An additional 40% of the men and 31% of the women said they could be convinced to save money in a foreign currency. The full rate of the respondents open to such savings was 57%.
The forint changed little to the euro on the interbank forex market
The forint traded at 399.45 to the euro around 10:00 in the morning on Friday, firming a fraction from its rate of 399.66 late Thursday. The forint eased to 368.02 from 367.85 against the dollar. It slipped to 416.42 from 415.85 to the Swiss franc.
We wrote HERE that the Hungarian forint reached a five-month peak against the euro last week.
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This article just adds to the GROWING examples – the PILE – of factual reason(s) that HIGHLIGHT the IMPLODING of Hungary.
Hungarians in millions, numbers GROW, as any “defence” mechanisms, coming out of the Orban – led Fidesz Government, the DELIVERERS of Hungary, to the “pressurized” place we are as a country, that will continue to worsen, with millions of Hungarians IGNORING the “talk” out of Orban and his Fidesz Government, that Respect and Trust – having been completely eroded destroyed and of no CONFIDENCE in this “toxic” Government – has been all DISPELLED.
Hungary, under the Orban led Fidesz Government, is a Lame Duck – Government.
Why don’t all Fidesz believers and EU critics put their savings in Ruble? I think we all know why anyone with common sense rather saves in Euros…