The Easter European currencies, including the Hungarian forint, were rising today as the improving sentiment about Europe’s economy and the governments’ pledge to cut the budget deficits attracted the foreign funds.
The Hungarian government pledged to narrow the nation’s budget deficit below 3 percent, causing the speculation that Hungary’s rating wouldn’t be downgraded by the Standard & Poor’s. The Hungarian currency was also helped by the improving outlook for the whole European economy, caused by the growing economies in such countries as Germany and Poland.
USD/HUF dropped today from 202.29 to 199.29 as of 11:59 GMT.
If you want to comment on the Hungarian forint’s recent action or have any questions regarding this currency, please, feel free to reply below.
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