They advised clients to stay short
forint versus the Turkish lira and Polish zloty.
Complicating that further is high unemployment, weak bank lending and 5 trillion
forints in mostly Swiss franc denominated foreign currency mortgages which have seen repayments soar due to the franc's strength and
forint's slide.
The decrease was primarily due to the devaluation of the Hungarian
forint against the euro during the period.
In Hungary, the furniture manufacturing sectors generated 180 billion
forints (EUR 580 million) in production value last year, a year-on-year increase of 6 percent; the sector provides jobs for 15 thousand people and an average of 63 percent of the goods it manufactures go to export, he explained.
According to Hungary's central bank, the
forint liquidity of the nation's banking sector rose slightly in March compared to a month before.
Moody's said that the government's initiatives in particular may be able to lead to change in the currency structure of new lending towards domestic currency, although this will also depend on the continued narrowing of the interest rate differential between
forint and foreign currency loans.
The Hungarian
forint appreciated by 16% when calculating the average Hungarian
forint/U.
The Hungarian
forint appreciated by 11% when calculating the average Hungarian
forint/U.
The new currencies are the Czech Koruna, Danish Krone, Hong Kong Dollar, Hungarian
Forint, New Zealand Dollar, Norwegian Krone, Polish Zloty, Singapore Dollar, Swedish Krona, and Swiss Franc.
This is also required in view of the fact that construction work has begun on the 42 billion
forint (EUR 120 million) test track for electric and self-driven cars.
The fall in the
forint value has led to a surge in repayments on foreign currency loans.
Conticap will supply ComStock with a range of financial data in the following currencies: New Turkish Lira, Polish Zloty, Hungarian
Forint, Russian Rouble, Romanian New Leu and Israeli Shekel.
