"After a five-day break, forint trading resumed in the Hungarian interbank market, however market activity is on a microscopic scale. The currency weakened by 0.8% since the closing bell last Tuesday, however this figure is meaningless in such an illiquid market.The EUR/HUF rate closed around 263 last Tuesday and rose to 265 with deals far and few. The exchange rate does not have a real significance in this dormant market, which is unlikely to change until next week unless something unexpected happens. The situation is the same in the Polish and Turkish currency markets.
After a stormy October, the volatility of the forint has become noticeably moderate in the recent weeks. The exchange rate of the Hungarian currency vs. the euro stayed in the 260-270 range in the last months of the year, a sign of stabilization."
Source: Portfolio Online Financial Journal
30.12.2008