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Hungarian Forint Rises on Austerity Pledges & Economic Outlook

October 1, 2010 at 13:59 by Vladimir Vyun

Hungarian ForintThe Easter European currencies, including the Hungarian forint, were rising today as the improving sentiment about Europe’s economy and the governments’ pledge to cut the budget deficits attracted the foreign funds.

The Hungarian government pledged to narrow the nation’s budget deficit below 3 percent, causing the speculation that Hungary’s rating wouldn’t be downgraded by the Standard & Poor’s. The Hungarian currency was also helped by the improving outlook for the whole European economy, caused by the growing economies in such countries as Germany and Poland.

USD/HUF dropped today from 202.29 to 199.29 as of 11:59 GMT.

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

3 Responses to “Hungarian Forint Rises on Austerity Pledges & Economic Outlook”

  1. reza

    Dear Writer

    i want to have your opinion on the near future for hungarian forint, do you think in 1-2 weeks it will go on to it’s next resistant that is about 174 or it will go back the way it’s come or the third that will volatilate in these areas?

    your opinion is importnt for me so please give me your feedback

    Regard

    Reza Taleb

  2. Emeric Arus, Sr.

    To Whom It May Concern,

    I’d like to move back to Hungary. I am old, but I’d like to die there. I am a Hungarian. Please give me some indication that in the near future approximately from this day to next one year, how the dollar will be seen by the Hungarian Forint. Right now is everything bad here in the USA.
    Please give me a hope to live in peace and to use my very little money (dollar) what I have and enjoy a logical life if any in Hungary not here in the USA.
    Keep in mind I love USA, but I don’t like at all.
    Sincerely,
    Emeric Sr.

  3. Andrei Moraru

    Hungarian forint will probably go up against the USD in a year from now.

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