Hungary forint rises on central bank lending package

BUDAPEST: Hungary's forint gained over one percent from Thursday's lows as a central bank programme to boost lending was met with relief from investors who had expected a more drastic package.

The currency firmed to 299.10 per euro by 1035 GMT compared with an intraday low of 304.4, according to Reuters data.

"This strengthening can continue until about EUR/HUF 299 but the long-term effect is uncertain, as this programme is clearly not some kind of miracle cure for Hungary's long-term problems," said a currency dealer in Budapest.