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Hungarian Forint Down on Dubai Debt

November 27, 2009 at 1:46 by Jan Baros

Hungarian ForintThe Hungarian currency had its sharpest fall in a month after Dubai announced that it’s likely to delay debt payments, declining attractiveness for emergent markets less appealing currencies in Central and Eastern Europe.

After Dubai’s announcement that public debt payments will be delayed, currencies in Eastern Europe ranked among the most affected, as a domino effect is likely to affect currencies from countries with a high international debt like Hungary, that witnessed a sharp decline on its currency.

EUR/HUF closed at 272.08 from an opening rate of 267.40.

If you have any questions, comments, or opinions regarding the Hungarian Forint, feel free to post them using the commentary form below.

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