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Forint weakens uncontrollably, reaches 6-month low: 400 EUR/HUF on horizon
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In recent days, we have seen a sharp weakening in the forint exchange rate. The 400 psychological level against the euro is slowly being reached again.
According to Portfolio, it is worth paying particular attention to the dollar now. The US currency is hovering around the 1.05 level against the euro. If it can break through it on a sustained basis, it could bring further weakening of the forint.
6-month low for the forint
Shortly before noon today (28 September), the euro was worth 394.53 forints. The last time the forint was weaker than this was at the end of March, hvg.hu reports. The exchange rate is now around 393.6, which is still 0.25% weaker than yesterday.
The forint is also helped today by the dollar correcting after reaching the psychological level of 1.05. It has not been able to sustain this level for the time being. The euro-dollar now stands at around 1.0533, 0.3% higher than Wednesday evening, Portfolio writes.
Arise I say – Minister of Finance – Mihaly Varga, a “Founding” Father of the Fidesz Party, speak AGAIN to us, your fellow Hungarian citizens – of what NEXT you “pontificate” as our saviour from Financial & Economic GLOOM & Despair.
Try AGAIN I say, Finance Minister – Varga, but its ALL looking Cataclysmic, that YOUR economic & financial Philosophy’s – the decisions & direction you have sent Hungary on, that we witness, growing, see’s our Economy of Hungary, in complete CAPITUALATION.
It will WORSEN.
Orbán’s empire is crumbling. He needs to sack his useless Finance Minister with the Governor of the Bank of Hungary.
Im an American and I am heavily invested in farmland and currency. I’m currently invested in government bonds at 16 percent.
. I hope this currency isn’t going to be like this Zimbabwe Dollar.. 5,000,000,000, for a loaf of bread
“A Government DEEP in Crisis Mode.”
And it will is WORSENING.
The BLAME all comes back to one individual – Victor Orban.
Hope for our survival our FUTURE, must be in growing SOLIDARITY, of us citizens, to remove Orban and his Government from office – from POWER.