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 email@example.com
To contact the editor responsible for this story: Gavin Serkin at firstname.lastname@example.org
Bloomberg reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions.