Hungarian forint weakened gradually this morning, and around 10 o’clock the euro reached the 400 forint exchange rate, Portfolio.hu reported.
The forint weakened significantly last week as well, the Euro started above 380 forints this week, but continued to fall in the morning. The reason for the weakening of the forint is the war situation, the emerging currencies are weakening significantly: the Polish zloty and the Czech koruna are also weakening sharply, but by far the Hungarian forint is the most underperforming currency.
It is not yet clear what will stop the weakening of the forint. The alleviation of the war situation could bring a significant improvement in mood, but there is no prospect of that yet. Russia appears committed to continuing the war, while international pressure on Russia is also growing.
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