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Share Article via LinkedIn Share Article via Email Emerging market currencies continued to pull back Thursday, with the Hungarian forint one of the worst hit — and there are worries it could be the next to take a dive, like the Argentinian peso. Read more: Argentinepeso suffers steepest daily fall since The cryptocurrency live trading bore the brunt of selling pressure on Thursday, falling further against the U. It is now down 5.
The forint has also fallen more than 4 percent against the euro and the swiss francthe currencies of its major trading partners, this year.
A 10, forint currency note. This contrasts with the central banks of India and Turkey, which moved to boost their currencies this week by hiking interest rates.
The Hungarian central bank has slashed interest rates by basis points since the end of and remains committed to cutting interest rates further in order to combat very low inflation. Spiro described the central bank's lack of concern about currency depreciation as perturbing.
Clearly Hungary isn't Turkey which cryptocurrency live trading interest rates to 12 percent this weekbut it is looking very shaky right now. It is clearly the weakest of the central European credits," he said.
Lee Hardman and Derek Halpenny of Bank of Tokyo-Mitsubishi said the forint — and the Polish zloty — would benefit from the gradual strengthening of the euro zone economy this year.