The forint weakened to an all-time low of 304.00 against the euro on Wednesday morning’s interbank market before firming to 300.00/50 amid volatile trade against the single European currency at 10:00 a.m., compared to a Tuesday-afternoon rate of 301.40/70.
The euro-forint rate fluctuated in a broad range between 299 and 304 on Wednesday morning.
Dealers say that interbank trade has remained light on Wednesday morning, thus enhancing the significance of individual transactions and increasing rate fluctuations.
The dollar commanded 231.40/80 forints on Wednesday morning, compared to a Tuesday-afternoon rate of 232.20/50.
Forint-market O/N interest remained unchanged at 9.00/9.10pc on Wednesday morning, compared to the National Bank of Hungary’s current key-interest rate of 9.50pc. Dealers note that there has been practically no interest in longer-term maturities on Wednesday morning.