Hungarian Forint Plummets To 5-week Low Against US Dollar
10 December 2009 - 2:40AM
RTTF2
The Hungarian forint reached a 5-week low of 188.24 against the
US dollar by 9:40 am ET Wednesday, compared to 186.31 hit late New
York Tuesday. The dollar-forint pair is presently worth 188.0 with
192.3 seen as the next target level.
The forint declined as the Hungarian GDP dropped a seasonally
adjusted 1.8% sequentially in the third quarter, confirming the
preliminary report. In the second quarter, the GDP was down
1.9%.
Year-on-year, the GDP fell 7.1% in the third quarter, compared
to the 7.4% decline in the previous quarter. The third quarter GDP
was revised from 7.2% decline reported initially.
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