The forint (HUF) rose against the major currencies on Tuesday morning compared to Monday evening’s trading in international currency markets.
The euro was quoted at 387.57 forints at 7 a.m., down from 394.09 forints on Monday evening. The dollar weakened from 340.08 forints to 333.48 forints, while the Swiss franc fell from 436.88 forints to 428.93 forints.
The euro strengthened to 1.1623 dollars from 1.1586 dollars on Monday evening.
Exchange rate
On Monday, however, the euro rose to nearly 400 forints due to the situation in Iran. Due to market panic, it seemed realistic that the exchange rate would reach 406 forints, where there appears to be double technical resistance. However, Donald Trump’s statement and the decline in global energy prices had a beneficial effect on the domestic currency.
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Via privatbankar.hu; Featured image: Pixabay
The post Forint’s Rapid Rebound: Geopolitical Easing and Falling Oil Prices Drive Gains appeared first on Hungary Today.
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