Exchange Rate in Hungary
Hungary - Exchange Rate
Forint hits fresh all-time low in September
The forint has been trending down sharply since mid-August and hit an all-time low of 336.0 per EUR for the second consecutive day on 24 September. On 27 September, the forint traded at 335.4 per EUR, which was 1.7% weaker than its value the same day in August. The forint was also down 4.2% year-to-date and 3.5% lower than the same day of the previous year.
Downbeat data released on 23 September for German private sector activity, which contracted for the first time in six-and-a-half years in September, ratcheted up concerns over the broad-based slowdown in the European Union. This dampened investor sentiment further and weighed on the forint. On the following day, the forint hit a record low again, ahead of the Central Bank meeting on the same day amid expectations that the Bank will keep rates unchanged. The Bank did indeed hold rates steady, thus preventing the forint from bouncing back. With the Bank focused on delivering more stimulus, the HUF is seen remaining undervalued.
Commenting on the outlook for the forint, analysts at UniCredit stated:
“We believe that risks are for a weaker currency over the coming months. The NBH [National Bank of Hungary] may ramp up monetary stimulus to offset external risks to the growth, sacrificing the HUF in the process”.
FocusEconomics panelists project that the forint will end 2019 at 328.2 per EUR and 2020 at 326.5 per USD.
Hungary - Exchange Rate Data
| 2013 | 2014 | 2015 | 2016 | 2017 | |
|---|---|---|---|---|---|
| Exchange Rate (vs USD) | 216.4 | 261.7 | 290.5 | 294.0 | 259.0 |
Hungary Exchange Rate Chart
Source: Thomson Reuters.
Hungary Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 2.03 | 0.0 % | Sep 04 |
| Exchange Rate | 298.6 | -0.68 % | Sep 04 |
| Stock Market | 39,753 | 0.04 % | Sep 04 |
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Economic News
Hungary: Economic growth picks up pace in Q3
November 14, 2019
Economic growth accelerated to 5.0% year-on-year in the third quarter, up from Q2’s 4.9% expansion, according to a preliminary reading released by the Hungarian Central Statistical Office (KSH) on 14 November.
Hungary: Industrial production growth jumps to near four-year high in September
November 13, 2019
Industrial production grew a working-day-adjusted 9.0% year-on-year in September, up from August’s 2.7% expansion and marking a near four-year high, according to the Hungarian Central Statistical Office.
Hungary: Inflation ticks up in October
November 8, 2019
Consumer prices rose 0.6% over the previous month in October, after increasing 0.1% month-on-month in September.
Hungary: Economic sentiment slips to near three-year low in October
October 28, 2019
The GKI economic sentiment index, a composite indicator, fell to minus 0.7 in October from minus 0.3 in September—the worst print since December 2016.
Hungary: MNB keeps rates unchanged in October meeting
October 22, 2019
On 22 October, the Monetary Council of the Hungarian National Bank (MNB) kept the base rate unchanged at the historical low of 0.90% and held stable all other existing instruments.
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