Hungarian Forint HUF

 

Detailed information and fundamental factors

Central Bank: Magyar Nemzeti Bank

Interest Rate: 4.75%

Public Debt to GDP Ratio, 2011: 80.6%

Trade Balance, 2011: $9.2 bln.

Inflation, 2011: 3.9%

Sovereign Credit Ratings:

Fitch
BBB-
Stable
Moody's
Ba1
Negative
S&P
BB
Negative

Supporting Factors

High-yielding interest rates

medium

Factors of Weakness

Dependence on the eurozone

Fiscal irresponsibility

weak

The Hungarian forint is the currency of Hungary. The modern forint was introduced in 1946, though currencies with this name were known since Medieval. The Hungarian government has a long term goal to replace the currency with the euro.



Hungarian Forint News Archive

Forint Climbs as Central Bank Discusses Methods to Spur Growth

The Hungarian forint gained today as the central bank started meeting with commercial lenders to discuss plans to encourage loans and spur economic growth as a result.

HUF Drops as MNB Plans Expanding Foreign-Exchange Reserves

The Hungarian forint dropped today on signs that the nation’s central bank will expand its foreign-currency reserves as a way to boost the economy.

Forint Hurt by Hungary’s GDP & CPI

The Hungarian forint fell today as worsening recession of the country’s economy and slowing inflation made traders speculate about an interest rate cut in the near future.

Forint Declines with Drop of Industrial Production

The Hungarian forint fell today as nation’s industrial production declined, spurring speculations that the central bank will continue its policy of monetary easing.

Forint in Danger from Interest Rate Cut

The Hungarian forint strengthened today, but may yet retreat as the nation’s central bank lowered its main interest rate amid fears of recession in the European Union.

Forint Suffers from Bad German Data

The Hungarian forint fell today as negative macroeconomic data from Germany scared investors and made them reluctant to buy risky assets.

Forint Loses Gains, Still Heads for Third Weekly Advance

The Hungarian forint climbed today, before trimming its gains, as the government may remove a legislative obstacle that prevented talks about a bailout. The currency pulled back after the initial gains, but recovered and headed for a third straight weekly advance.

Forint Gains as Europe Strengthens Firewall Against Crisis

The Hungarian forint gained today after European finance ministers agreed to boost the bailout fund, leading to hope that Hungary may be able to resolve its debt problems.

Forint Drops to Almost Three-Year Low

The Hungarian forint sank today to the lowest level in almost three years on concerns that Hungary won’t receive a bailout from the European Union and the International Monetary Fund in the near future.

Forint Goes Lower as Borrowing Costs Rise

The Hungarian forint declined today, though it currently attempts to regain strength, as the result of the debt auction wasn’t favorable and the rating agencies downgraded the nation’s credit rating.

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