Bloomberg News

Forint Weakens Second Day as Hungary Objects to Aid Conditions

April 16, 2012

The forint declined for a second day on concern Hungary won’t give in to all demands by the European Union and the International Monetary Fund in return for a credit line.

Hungary’s currency depreciated 0.6 percent to 299.3 per euro by 9:03 a.m. in Budapest. A close at that level would be the weakest since Jan. 23.

The European Commission shouldn’t make demands of Hungary that aren’t related to economic issues in exchange for a bailout, Mihaly Varga, Prime Minister Viktor Orban’s chief of staff, told HirTV late yesterday.

To contact the reporter on this story: Andras Gergely in Budapest at agergely@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net


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