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HATC SAMPLE EDITION:
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16th September, 2025
Forint at three-year high against dollar
The euro was traded at around Ft 389.7, and the dollar at Ft 331 on Monday, as the forint reached its strongest position against the US currency in three and a half years.
The Hungarian base rate of 6.5%, which is still high in international terms, is the primary reason for the strengthening, and the international environment is now also supportive, Portfolio adds.
A 25-basis-point cut in the interest rate by the US Federal Reserve is already priced in for Wednesday, and the declining US interest rate points to a further weakening of the dollar, while with inflation above 4% in Hungary, the MNB cannot even consider an interest-rate cut for the time being.
If the dollar starts to weaken again, it could even give the forint a boost, Portfolio adds.
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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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