Forint At 4-day Low Against Dollar As Hungarian C. Bank Holds Key Rate At 6%
March 28 2011 - 8:19AM
RTTF2
As widely expected, the Hungarian Central Bank on Monday decided
to retain its key interest rate at 6 percent. The Hungarian forint
slipped to a 4-day low of 190.49 against the dollar following the
rate decision, down from Friday's close of 189.34. If the forint
declines further, 194.0 seen as the next likely support level.
In January, the central bank raised the key rate by 25 basis
points to its current level. The central bank resumed the rate hike
in November after holding it steady for six meetings.
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