The forint has plummeted to a new low, never given so much for a single dollar

dollar; euro; forint; lows; weakening;

2022-05-12 22:10:00

In contrast to the US currency, the Hungarian currency almost reached a historic low, with a dollar already quoted above HUF 370.

On Thursday, the forint continues to weaken against both the euro and the dollar, with the latter quoting a historic low after seven o’clock in the evening, the Portfolioemphasizing that the dollar is also taking important levels, approaching parity with the euro.

It was noted that a dollar cost 360 forints in the morning, and by evening the quotations were over 370, the difference was 10 units, while not only the forint weakens against the euro (the exchange rate was more than 382 forints), but the dollar is also strengthening.

Equilor fund manager wrote in its analysis of the foreign exchange market on Thursday morning that it expects the rate of interest rate hike to be 50 basis points instead of the previous 100 basis points at its next meeting on 31 May.


Source: N├ępszava by nepszava.hu.

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