The Hungarian forint reached a 5-week low of 188.24 against the US dollar by 9:40 am ET Wednesday, compared to 186.31 hit late New York Tuesday. The dollar-forint pair is presently worth 188.0 with 192.3 seen as the next target level.

The forint declined as the Hungarian GDP dropped a seasonally adjusted 1.8% sequentially in the third quarter, confirming the preliminary report. In the second quarter, the GDP was down 1.9%.

Year-on-year, the GDP fell 7.1% in the third quarter, compared to the 7.4% decline in the previous quarter. The third quarter GDP was revised from 7.2% decline reported initially.

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