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27th August, 2019

Forint trading near record low

The forint dropped to a record low of 330.8 against the euro last week and was not able to make any significant gains on Monday, Portfolio writes.

After the closure of the interbank market, the forint was trading around 329 versus the euro and 296 versus the dollar, close to a 30-month low.

The forint extended losses last week on the escalation of the China-US trade war.

Even as market tensions eased on Monday, the Hungarian currency did not benefit from it. The forint underperformed regional currencies, as the Czech koruna appreciated by 0.3% and the Polish zloty by 0.5%.

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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