The forint is holding on, it has strengthened since the morning

The dollar price rose from HUF 385.71 to HUF 387.40, the Swiss franc fell from HUF 403.19 to HUF 401.86.

The dollar index, calculated on the basis of the exchange rate of the dollar against six leading international currencies, rose by one percent on Friday thanks to significantly better-than-expected July US employment data, which increased the likelihood that the Fed will continue monetary tightening in the coming months.

Compared to its early morning quotation, the forint strengthened by 0.2 percent against the euro and 0.3 percent against the Swiss franc at six o’clock in the evening, while it weakened by 0.4 percent against the dollar.

In the afternoon quotation, the forint is 2.5 percent stronger compared to the beginning of the week against the euro, 2.0 percent stronger against the dollar and 3.3 percent stronger against the Swiss franc.

Since the beginning of the year, the forint has weakened against all three currencies: by 6.7 percent, 19.3 percent, and 12.8 percent, respectively.

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