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FORINT CONTINUES TO FIRM AS NBH MEASURES KICK IN

 

The forint continued to firm on Monday as policy measures announced by the National Bank of Hungary (NBH) on Friday impacted the market. The NBH started holding regular tenders for O/N deposits at a rate of 18%, well above the 13% base rate. At the tender on Monday, the facility soaked up a little over 1,201 billion forints of banking sector liquidity. The forint traded at 412.38 to the euro around 5.30pm, firming from 417.68 late on Friday.