Hungarian Forint Extends Longest Streak of Gains in Three Months
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The forint rallied for a fifth day, its longest streak of gains in three months, as global appetite for risk increased and Hungary worked to obtain an aid deal from the International Monetary Fund.
The currency appreciated 0.5 percent to 277.71 per euro by 4:58 p.m. in Budapest. The cost of insuring Hungary’s debt with credit-default swaps fell 22 basis points to 248, the lowest since June 2011. Yields on the government’s benchmark 10-year bonds fell 11 basis points to 6.626 percent.