Forint Weakens to 4-Month Low on Loan Concern: Budapest Mover
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The forint dropped to a four-month low after Magyar Nemzet reported a leader of the ruling Fidesz party as saying banks must bear most of the cost of phasing out foreign-currency loans.
Hungary’s currency depreciated 0.7 percent to 302.28 per euro by 3:46 p.m. in Budapest, the weakest on a closing basis since April 26. Yields on the government’s benchmark 10-year bonds rose six basis points, or 0.06 percentage point, to 6.66 percent.