European leaders agreed yesterday to help Greece get out of debt. The second bailout package amounts to EUR159 billion, including official loans and contributions from the private sector. The plan also includes decreasing interest rates and extending maturities on existing loans and on future loans made by the European Financial Stability Fund. The summit pledged to take steps to preserve the euro. Regional currencies reacted positively to the results of the summit, investors decided to buy Hungarian forint and Polish zloty.
The Hungarian forint firmed to all major currencies. The currency market will continue to keep an eye on the outcome of the euro-zone summit. The forint foreign exchange rate will most probably be influenced by further euro-zone news rather than regional events. Details on the bailout plan may have a positive impact, while volatility is likely.
Latest Hungarian Forint Foreign Exchange Rates
On currency markets, one Swiss franc bought 221.97 Hungarian forints, while a UK pound sterling currently exchanges 297.89 a euro 263.53, and one US dollar 182.63 Hungarian forints.