The forint fell deeper against the euro than it did on Monday, then began to hold up.

On Tuesday morning, the value of the forint fell to a level below Monday’s unprecedented low exchange rate: around 3:30, the euro rose to 391.5, a tenth higher than Monday’s low. The last time Forint reached this low level was at the beginning of August.

This decline is also supposed to be due to expectations regarding the MNB interest rate decision. Analysts expect the central bank to cut the key interest rate, and exchange rate fluctuations are common at such times.

The forint weakened against the dollar as well: the US currency exchange rate rose almost to 370 forints, but then the Hungarian currency began to recover.

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