Hungarian Forint Advances To New 3-week High Against Euro After Rate Cut
March 24 2015 - 11:25AM
RTTF2
The Hungarian forint spiked up against the euro in New York
deals on Tuesday, after Hungary's central bank cut its key interest
rate to a new low, amid falling prices and improving growth.
The Monetary Council of the Magyar Nemzeti Bank reduced the base
rate by 15 basis points to 1.95 percent. Economists had expected a
slightly larger cut to 1.90 percent.
The new rates are effective March 25. The central bank overnight
deposit rate is now at 0.95 percent and the lending rate at 2.95
percent.
The Hungarian forint hit 300.31 against the euro, its highest
since March 2. At yesterday's close, the pair was valued at 303.19.
The next possible resistance for the Hungarian forint is seen
around the 297.00 zone.
Euro vs HUF (FX:EURHUF)
Forex Chart
From Jul 2024 to Aug 2024
Euro vs HUF (FX:EURHUF)
Forex Chart
From Aug 2023 to Aug 2024