BUDAPEST, March 2 (Xinhua) -- Hungary's currency, the forint, hit record lows against the euro and the U.S. dollar on Wednesday at 380.47 HUF/EUR and 343.29 HUF/USD respectively.
In the morning, the forint hardly moved from the low of 379 forints/euro reached Tuesday, and the euro had already crossed the psychological level of 380 around noon: the Hungarian central bank MNB set its daily exchange rate at 380.47 forints for one euro.
The U.S. dollar cost 343.29 forints, also at a historical low point, according to MNB's official figure.
"The Russia-Ukraine conflict makes the forint weak," local business portal Portfolio commented on the negative record of the Hungarian currency on Wednesday, citing that in one week, its exchange rate against the euro moved from 355 to over 380. This corresponds to a devaluation of 7.2 percent in one week.
"It is not yet clear where this weakening will end, investors are now paying close attention to the news of the Russia-Ukraine situation," said the Portfolio. ■
