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.
Hungarian Forint HUF
Detailed information and fundamental factors
Central Bank: Magyar Nemzeti Bank
Interest Rate: 7.00%
Public Debt to GDP Ratio, 2010: 80.2%
Trade Balance, 2010: $6.21 bln.
Inflation, 2010: 4.9%
Supporting Factors
High-yielding interest rates
medium
Factors of Weakness
Dependence on the eurozone
Fiscal irresponsibility
weak
Hungarian Forint News Archive
Forint Goes Lower as Borrowing Costs Rise
December 29th, 2011 at 19:29
Hungarian Forint
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.
Forint Goes Down, More Interest Rate Hikes Expected
November 30th, 2011 at 12:49
Hungarian Forint
The Hungarian forint fell today even though the nation’s central bank increased interest rates, prompting the speculation that more rate hikes will be performed in the future.
Hungarian Forint Rises on Austerity Pledges & Economic Outlook
The Easter European currencies, including the Hungarian forint, were rising today as the improving sentiment about Europe’s economy and the governments’ pledge to cut the budget deficits attracted the foreign funds.
IMF and E.U. Won’t Help — Hungarian Forint at Weekly Low
July 19th, 2010 at 11:43
Hungarian Forint
Following the release of the statement by IMF regarding the financial state of the Hungarian economy, the Hungarian forint fell to the lowest level since July 7 against the U.S. dollar and then rebounded slightly.
Hungarian Forint May Go Down if IMF Reject Loan
July 15th, 2010 at 13:49
Hungarian Forint
The Hungarian forint fluctuated today against the U.S. dollar and may drop lower on the speculation that the discussion between the nation’s government and the International Monetary Fund about the terms of the bailout loan might fail.
Hungarian Forint Gains on Pledge to Avoid Default
June 09th, 2010 at 12:24
Hungarian Forint
The Hungarian forint gained today for the third consecutive day after Hungary’s government pledged to cut the budget shortfall, easing the concerns about the possible default.
Hungarian Forint Gains on Government’s Budget Plans
June 08th, 2010 at 14:32
Hungarian Forint
The Hungarian forint, which dropped previously on the speculations about the possible default in Hungary, strengthened today for a second day after Hungarian government pledged to stick to the budget deficit goal.
Hungarian Forint Falls on Upcoming Budget Crisis
The growing problems of budget deficits are not an exclusivity among EU countries using the Euro, as several of its eastern nations, as in the case of Hungary, have a budget deficit much above the maximum tolerated by the European Central Bank, affecting the nation’s currency performance.
Hungarian Forint Down on Dubai Debt
November 27th, 2009 at 1:46
Hungarian Forint
The Hungarian currency had its sharpest fall in a month after Dubai announced that it’s likely to delay debt payments, declining attractiveness for emergent markets less appealing currencies in Central and Eastern Europe.
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