Hungarian forint (HUF) banknotes

Hungarian Currency Hits New Historic Low

November 26, 2019

Hungary's currency, the forint weakened to a new historical low against the euro this morning with the exchange rate reaching HUF 337.24/EUR on the interbank market. The Hungarian currency has depreciated by 2.5% over the past month and by 5% since the beginning of the year. The US dollar is currently close to 306 forints, which translates into a 9.2% forint weakening against the USD since the beginning of the year.

According to the financial website, the forint's fall to a new low against the euro took place amid fundamentally positive international sentiment that pushed global stock markets to new peaks. This means that the exchange rate is no longer primarily driven by international news and focus is shifting to the Hungarian National Bank's monetary policy. Hungarian central bankers have been pursuing a loose monetary policy for months.


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