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Forint Loses Gains, Still Heads for Third Weekly Advance

June 22, 2012 at 15:48 by Vladimir Vyun

The old House of Representatives in Pest on a Hungarian 10,000-forint noteThe Hungarian forint climbed today, before trimming its gains, as the government may remove a legislative obstacle that prevented talks about a bailout. The currency pulled back after the initial gains, but recovered and headed for a third straight weekly advance.

The Hungarian government plans to change the law on the Magyar Nemzeti Bank, the Hungarian National Bank, that caused concerns to the European Central Bank and the International Monetary Fund. The parliament may approve the bill in two weeks. The nation’s economic sentiment index rose from -24.9 in May to -24.5 in June.

USD/HUF traded at 228.58 as of 15:48 GMT today after falling from 229.74 to 227.65.

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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