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The forint starts the week at 368 against the euro, which is 0.1 percent higher than on Friday night. With this, the historical minimum of the forint seen last year is still in a dangerous proximity at 369.6, last week the price was above 369, that is, the Hungarian currency returned from the edge of the gap. In the next period, the interest rate decision of the MNB Monetary Council on Tuesday will be interesting and the market will pay attention to the announcement and communication, as the central bank should also react to the weakening of the forint and the increase of the inflation outlook. The dollar is now trading at 309.7, while the British pound costs 428.73 guilders.
Among the forint’s competitors, the Polish zloty started the day with a weakness of 0.2 percent, while the Czech koruna started the day with little change. In the emerging market, investors are focusing on the Turkish lira, which is now down 9.6% but also fell 17% against the dollar at dawn after the central bank chairman was unexpectedly ousted over the weekend. .
The dollar is trying to strengthen, which could put further pressure on emerging market currencies. The euro-dollar price was around 1.1885 on Monday morning, 0.2% lower than that of Friday night. Meanwhile, the Japanese yen strengthened 0.2 percent against the dollar, while the British pound weakened 0.2 percent.
Cover image: Getty Images
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