Forint Rises to Week-High on Hungary GDP, Central Bank Plan
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The forint rose to the strongest in a week as data showed Hungary’s economy expanded more than economists forecast and the country’s central bank pledged to take steps to help boost lending.
Hungary’s currency appreciated as much as 1.4 percent and traded 0.4 percent higher at 290.67 per euro by 5 p.m. in Budapest, the highest closing level since Feb. 8. The jump extended the forint’s rally this year to 8.3 percent, the most among all currencies tracked by Bloomberg. The benchmark BUX Index rallied 0.5 percent to 19,132.49, as OTP Bank Nyrt., Hungary’s largest lender, rose 2.4 percent.