Hungarian Forint Falls To 3-week Low Vs U.S. Dollar After Hungary Rate Decision
June 20 2017 - 4:59AM
RTTF2
The Hungarian Forint dropped against the U.S. dollar in the
European session on Tuesday, after Hungary's central bank held its
key interest rate steady at a record low for a thirteenth
consecutive month as inflation remains well below the bank's 3
percent target.
The Monetary Council of the Magyar Nemzeti Bank left the base
rate unchanged at 0.90 percent, in line with economists'
expectations.
The overnight deposit and the one-week lending rates were
unchanged at -0.05 percent and 0.90 percent, respectively.
The Hungarian Forint dropped to 277.14 against the greenback,
its weakest since May 30. If the Forint falls further, 279.00 is
likely seen as its next support level.
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