Hungarian forint may soon break through another important level

After a major rally last Friday, the Hungarian forint closed near 395 against the euro. This morning, the Hungarian currency started the week with a further strengthening, then weakened slightly

The forint strengthened against the major currencies on Monday morning compared to Friday evening. On Friday, the forint closed near 395 against the euro, a four-month high. Gas prices, which are the main drag on the forint, have fallen, the dollar is weakening and the dispute over Brussels funds has reached the finish line, breaking down several barriers to the forint’s advance.

This suggests that the Hungarian currency could remain below the 400 level for a long period, or even target a level below 390.

The euro was quoted at 394.10 forints at 8 a.m. on Monday, the dollar at 368.99 forints, the British pound at 450,78 forints and the Swiss franc at 398.75 forints.

9 AM

The euro was quoted at 396.46 forints at 9 a.m. , the dollar at 370.5 forints.