Forint Slips to Weakest in 2 1/2 Years in Hungary Holiday Trade

The forint slid to its weakest versus the euro in 2 1/2 years as renewed concern Greece may default drove investors from riskier assets worldwide while Hungarian markets were closed for a state holiday.

The Hungarian currency depreciated as much as 1.5 percent to 307.63 per euro, its weakest intraday level since April 2009. The forint traded 0.9 percent down by 9:21 a.m. London time, adding to a 3.2 percent slump in October.

Global stocks sank and most emerging-market currencies slid as investors fled to the relative safety of German government bonds after Greece announced a referendum on the European Union’s latest bailout plan. The move risks pushing the nation into default if voters reject the EU’s financial accord.

To contact the reporter on this story: Krystof Chamonikolas in Prague at

To contact the editor responsible for this story: Gavin Serkin at

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.