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Forint Eases To 12-m Low vs. EUR, Despite HUF-Supportive C.Bank Comments |
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 "The central bank’s (NBH) verbal intervention made no positive impact on Hungary’s forint. Moreover, the currency has eased to over 291 vs. the euro, the weakest level since June 2009.The HUF has depreciated slightly since the NBH announced at 14:00 CET that it has kept its base rate on hold at 5.25% and the official statement released an hour later failed to lend a momentum to the forint either. Both the Monetary Council’s official statement and a remark by Simor contained elements that are clearly forint-supportive. At 15:30 CET, EUR/HUF breached 290, which marks a 12-month low for the forint, and then went further north easily." Source: Portfolio Online Financial Journal
20.07.2010
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