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6th December, 2018

Banks expect forint to depreciate

Nordea Bank has ranked the forint as the world’s second most vulnerable currency after the Brazilian real, in its November list ranking 33 currencies.

The forint rose from sixth position a month earlier because the Scandinavian bank sees a high risk of forint devaluation due to the abundant money supply and accelerating inflation in Hungary.

In its global market review released on Wednesday, Société Générale forecast that the forint will weaken to Ft 340 per euro by the end of next year.

Global investment bank JP Morgan recently projected the forint to fall to Ft 344.5 per euro next year.

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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