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Hungarian Forint Drops Against U.S. Dollar After Rate Cut
(RTTNews) - The Hungarian forint weakened against the U.S. dollar on Tuesday, as the National Bank of Hungary reduced the base rate by 100 basis points, as expected.
The base rate was reduced to 9 percent from 10 percent.
The Hungarian forint was trading at 360.03 against the greenback, down from an early 5-day high of 357.87. The currency is seen finding support around the 375.00 level.
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Hungarian Forint Rises Against U.S. Dollar After Hungary Rate Hike
The Hungarian forint advanced against the U.S. dollar in the European session on Tuesday, as Hungary's central bank lifted its benchmark rate at a sharper-than-expected pace.
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