Hungarian Forint Rises Against U.S. Dollar After Hungary Rate Hike
27 Septembre 2022 - 11:00AM
RTTF2
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.
The Monetary Council, led by Governor Gyorgy Matolcsy, hiked the
base rate by 125 basis points to 13.00 percent from 11.25
percent.
The overnight deposit rate was increased by 125 basis points to
12.50 percent and both the overnight and one-week collateralised
lending rates were raised by 125 basis points to 15.50 percent.
The Hungarian forint edged up to 419.72 against the greenback
from Monday's close of 424.75. The Hungarian forint is seen finding
resistance around the 404.00 level.
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