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.