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.
Hungarian Forint HUF
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%
High-yielding interest rates
Factors of Weakness
Dependence on the eurozone
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
April 08th, 2013 at 15:08
March 04th, 2013 at 10:44
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.
February 14th, 2013 at 14:29
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.
January 08th, 2013 at 16:59
The Hungarian forint fell today as nation’s industrial production declined, spurring speculations that the central bank will continue its policy of monetary easing.
November 27th, 2012 at 13:32
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.
July 31st, 2012 at 23:03
The Hungarian forint fell today as negative macroeconomic data from Germany scared investors and made them reluctant to buy risky assets.
June 22nd, 2012 at 15:48
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.
March 30th, 2012 at 19:56
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.
January 04th, 2012 at 14:21
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.
December 29th, 2011 at 19:29
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.