Hungarian forint on a slope, no telling when it reaches bottom

The Hungarian forint continues to slide down the slope. On Thursday morning, one euro cost more than HUF 390.

The Hungarian forint continues to weaken

24.hu reports that the Hungarian currency was above HUF 391/EUR on Thursday morning. The weakening is linked to unfavourable international investor sentiment.

European stock markets fell further on Thursday. Meanwhile, the US dollar strengthened. “The US announcement on visa restrictions played a major role in the weakening above the current level of 390. Investors typically react to such announcements, which show frictions between countries, by closing their positions and selling their forint assets, which results in a weakening of the currency,” Dániel Molnár told index.hu.

The HUF was last at a similar level on 21 March.

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