September 28, 2023

South Sudan News Agency

Complete English News World

Frightened by the rocket hitting Poland, the forint is now trying to find its way out

On Wednesday morning, the forint was around 407.5 against the euro, up 0.8 percent in terms of the Hungarian currency compared to Tuesday evening. Last night, the Polish missile attack also gave the forint a serious scare, as the exchange rate to the euro suddenly approached 415. By morning, however, the international mood had calmed down and everyone was now hoping that worst-case scenarios could be avoided. And this has a positive effect on the forint, which rebounded to highs on Tuesday afternoon and recovered from falls in the evening. Against the dollar, we are now at 392.3.

Among the forint’s rivals, the Polish zloty opened the day with a 0.2 percent gain, while the Czech koruna remained flat against the euro. In the emerging market, the Turkish lira was also unchanged against the dollar, while the Russian ruble rose 0.7 percent.

The dollar rose slightly on Tuesday night after investors began looking for safe havens amid fears. However, this did not last long, just as the forint weakened, the euro-dollar quote on Wednesday morning was at 1.0388, which is 0.3% higher than last night, which means that it is practically back to the same place it was before the launch. strike. Meanwhile, the Japanese yen opened the day down 0.4 percent against the dollar.

Cover image: Getty Images

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