Bloomberg News

Hungarian Forint Weakens, Snaps Five Days of Gains Against Euro

June 11, 2012

The forint weakened, snapping five days of gains against the euro, as Hungarian government bonds fell for a second day.

The currency of the European Union’s most-indebted eastern member depreciated 0.2 percent to 295.84 per euro by 2:43 p.m. in Budapest. The forint gained 3.3 percent last week, the most among major emerging-market peers tracked by Bloomberg.

Bonds fell, lifting the benchmark 10-year yield six basis points, or 0.06 percentage point, to 8.54 percent. The yield tumbled 57 basis points last week.

To contact the reporter on this story: Krystof Chamonikolas in Prague at kchamonikola@bloomberg.net

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


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