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Trading in the currency market does not stop, however, the MNB traditionally sets the official interbank closing rates on the morning of the last day of the year. According to them now
after 330.52 in 2019, the forint will close 2020 at the official exchange rate of 365.13 against the euro.
This represents an increase of 10.5% in the interbank exchange rate in one year, and in the last twenty years there has only been twice the weakening of the forint in one year, when in 2003 and 2011 the fall of the Hungarian currency was of more than 11%.
During the year, of course, there were still many historical events in the forint market, at the beginning of April the price of the euro forint reached a peak that has been occurring since then, when 369.59 forint had to be given for one euro. In the fall, the exchange rate got dangerously close to this, but failed to hit another psychological limit of 370 in 2020.
Cover image: Getty Images
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