The forint is the strongest it has been for a while – positive prospects?
It has been a long time since the forint has been this strong. After last week’s “rally”, it did not take long this week for the forint to move to a new psychological level, Forbes, a business magazine reports.
On Monday morning, the euro was already trading below the 400 forint level, reaching 399.2 forints shortly before 9 AM.
A Portfolio article recalls that the strengthening of the forint gained momentum on Friday along with the weakening of the dollar, with the forint up half a percent against the euro so far today.
The strengthening came after the Hungarian National Bank (MNB)’s decision this morning, with the central bank keeping the policy rate at 18 percent.
Read alsoHungarian government reacts to Putin’s words but does not refute them
Source: Forbes.hu, Portfolio
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2 Comments
Let’s get the facts out, for a change:
https://tradingeconomics.com/hungary/interest-rate
Am I alone in finding this … Disturbing ??? This is REALLY BAD – failing to see the “positive prospects”
OK – little more analysis:
https://tradingeconomics.com/country-list/bank-lending-rate
We’re doing worse than Ukraine, sandwiched between Angola and Sri Lanka. Dead last in Europe, obviously