Hungarian Forint Poised to Reach Euro Record High

The Hungarian forint is demonstrating sustained strength and is being supported by various positive factors, according to The currency collapsed earlier this year, but it has since experienced a revival and is now approaching its strongest level of the year. A number of factors are helping the forint, including a strong stance by the Hungarian Central Bank on exchange rate stability and the fact that there was a surplus in February’s external trade in goods. Internal factors such as a reduction in gas consumption are also improving the situation. The exchange rate has already reached an almost one-year high against the dollar, and could now reach a new annual peak against the euro at a stable level of 370.

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