Hungarian Currency Rate: Historic Low Against the Euro

The Hungarian currency, the forint (HUF) weakened steadily on Monday, with the euro at HUF 388.19 at dawn and crossing HUF 390 by the morning.

The weakening did not stop thereafter, with negative records being broken one after the other, reaching the HUF 399 mark a few minutes before 10 am. This is how the euro reached HUF 400 five minutes after 10 o'clock.

The weakening of the forint in the last few days is mainly due to the Russian-Ukrainian war. It has been reported several times recently that the forint is at a historic low. The HUF 400/EUR is another historic low for the forint but it is also a psychological limit.

According to an analysis by the Hungarian financial website Portfolio, the American dollar (USD) is also strengthening against the euro, which means that the forint is weakening even more against the US dollar: one USD is now worth HUF 366. In East Central European region, the Czech koruna and the Polish złoty have also weakened, but to a much lesser extent than the forint. Both currencies weakened by around one percent on Monday.