Bloomberg News

Hungarian Forint Extends Biggest Two-Day Advance in a Month

June 05, 2012

The forint extended the biggest two- day advance in more than a month and Hungary’s five-year bonds gained.

Hungary’s currency appreciated 0.4 percent to 301.5 per euro by 4:05 p.m. in Budapest, taking its gains this week to 1.1 percent, the most since the two days through May 2. The government’s five-year bonds rallied, cutting yields five basis points or 0.05 percentage point, to 8.796 percent.

The forint rebounded yesterday from a four-month low as lawmakers delayed a vote on a central bank law to allow the government more time to reach a consensus with the International Monetary Fund on its content and help start talks on a bailout.

European stocks rose, snapping a four-day decline, amid speculation that policy makers around the world will take steps to stimulate economic growth.

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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