| Hungary's currency weakened sharply on Tuesday in reaction to the government's latest plan to ease the debt burden for foreign-currency borrowers at the expense of banks, with a European Union warning that the country may return next year under strict budget oversight adding to the forint's slide.
The Hungarian forint fell about 1% against the euro intraday, with the euro trading above 312 forints by the end of the day after opening around 309 and 310 forints. The forint weakened as implications of the government's plan to convert foreign-currency loans into forints at below-market rates sunk in, said Peter Attard Montalto, economist at Nomura...............................................Full Article: Source
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