So far, there is nothing to stop the fall, the forint stood at 363.5 euros shortly before noon on Wednesday.

The forint is back at level 360, we wrote it down on Tuesday, and it really looks like it won’t be easy to get rid of it again.

The reason is relatively simple: while Eastern European countries escaped the first wave of the coronavirus crisis well, the second wave has much higher infection rates than before, so it is questionable where, what restrictions will be introduced. and what impact it will have on the economy. . It is true that at home the government is doing everything it can to ensure that there are no closures similar to the spring ones in the case of even worse numbers, the government has already intervened in the Czech Republic.

However, in the face of uncertainty, investors almost always react in the same way: they sell uncertain currencies and invest their money in what they trust in its stability, so they buy mainly dollars, euros and gold. This is also evident in the dollar exchange rate, for example, which was able to strengthen on Wednesday.

Of course, all this is not specific to florins, the zloty and the Czech crown also fell in the region, both on Tuesday and Wednesday mornings.

The florin stood at € 363.5 shortly before noon, although it started at € 357 on Tuesday morning.

The forint reached its all-time low in early April, when the government only promised a crisis management package, and for a short time it was necessary to give 369.5 forints to one euro. After the government and the MNB took steps to save the economy, the markets calmed down a bit and the forint spent the late spring and summer between 345 and 355. In late August, it began to weaken from here.



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