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28th June, 2018

Forint sinks to new record low

The forint traded at more than 328 per euro on Wednesday afternoon, reaching its weakest level to date.

Analysts are revising their forint forecasts, as fewer and fewer of them believe that the currency will start strengthening before it sinks to 330 per euro, Portfolio reports.

The forint has lost 2.3% of its value against the euro over the last week and more than 5% since the beginning of the year. Meanwhile, the Polish zloty dropped by only 2.3% this year and the Czech crown has strengthened by 2%.

The forint’s previous record low against the euro of 327.6 was reached in January 2015.

Sources regularly consulted, with abbreviations used in text: Népszabadság (N); Magyar Hírlap (MH); Világgazdaság (VG); Napi Gazdaság (NG); Magyar Nemzet (MN); Népszava (Nsz); Kossuth Rádió news (KR); nightly TV news (TV).

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