Hungarian Forint Weakens, Snaps Five Days of Gains Against Euro

The forint weakened, snapping five days of gains against the euro, as Hungarian government bonds fell for a second day.

The currency of the European Union’s most-indebted eastern member depreciated 0.2 percent to 295.84 per euro by 2:43 p.m. in Budapest. The forint gained 3.3 percent last week, the most among major emerging-market peers tracked by Bloomberg.

Bonds fell, lifting the benchmark 10-year yield six basis points, or 0.06 percentage point, to 8.54 percent. The yield tumbled 57 basis points last week.

To contact the reporter on this story: Krystof Chamonikolas in Prague at kchamonikola@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net

Bloomberg reserves the right to edit or 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.