Bloomberg Anywhere Login


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Forint Weakens Second Day on Greece Rating Risk, German Data

Aug. 8 (Bloomberg) -- Hungary’s forint weakened a second day amid concern Greece’s credit rating may be cut and as German industrial output contracted, cutting investor appetite for riskier, emerging-market assets.

The currency depreciated 0.2 percent to 277.49 per euro by 4:36 p.m. in Budapest. The yield on government bonds maturing in 2022 rose seven basis points, or 0.07 percentage point, to 7.499 percent.

Greece may be cut again by Standard & Poor’s after the rating agency revised to negative the outlook on the country’s CCC ranking, already eight levels below investment grade. German factory output fell 0.9 percent from May, the third set of data this week to signal Europe’s largest economy is cooling as the sovereign debt crisis erodes demand for its goods. Germany is Hungary’s largest trading partner.

Developments in the euro area will be “decisive for the forint” today amid the intensifying risk aversion, Commerzbank AG analysts led by Peter Karsai in Budapest said in an e-mailed note to clients today.

To contact the reporter on this story: Edith Balazs in Budapest at

To contact the editor responsible for this story: James M. Gomez at

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.