Hungarian Forint Slides To New 2 1/2 -month Low Versus Greenback
30 11월 2010 - 8:46PM
RTTF2
The Hungarian forint that closed yesterday's North American
session at 216.01 versus the US dollar, edged down further and
touched a fresh 2 1/2 -month low of 219.46 by about 5:05 am ET
Tuesday. Thereafter, the pair reversed its direction and currently
trading near 216.75.
On the economic front, Hungary's producer price index, or PPI,
rose 7.1% year-on-year in October, slower than a 7.9% growth in the
previous month, a report by the Central Statistical Office showed
today. Economists had expected an increase of 7%.
Month-on-month, the PPI decreased 0.8% in October, following a
0.9% fall in September. Producer prices for manufacturing industry
slipped 0.9%.
The Hungary's central bank unexpectedly hiked its benchmark
interest rate by 25 basis points to 5.5%, yesterday.
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