AIRLINK 75.41 Increased By ▲ 1.71 (2.32%)
BOP 4.89 Decreased By ▼ -0.01 (-0.2%)
CNERGY 4.43 Decreased By ▼ -0.09 (-1.99%)
DFML 43.44 Decreased By ▼ -1.44 (-3.21%)
DGKC 84.72 Decreased By ▼ -0.78 (-0.91%)
FCCL 21.30 Decreased By ▼ -0.10 (-0.47%)
FFBL 32.40 Decreased By ▼ -0.11 (-0.34%)
FFL 9.56 Decreased By ▼ -0.03 (-0.31%)
GGL 10.10 Decreased By ▼ -0.17 (-1.66%)
HASCOL 6.98 Decreased By ▼ -0.15 (-2.1%)
HBL 114.59 Decreased By ▼ -0.11 (-0.1%)
HUBC 139.11 Increased By ▲ 0.01 (0.01%)
HUMNL 12.18 Decreased By ▼ -0.24 (-1.93%)
KEL 4.97 Decreased By ▼ -0.06 (-1.19%)
KOSM 4.40 Decreased By ▼ -0.05 (-1.12%)
MLCF 37.25 Decreased By ▼ -0.35 (-0.93%)
OGDC 134.10 Decreased By ▼ -2.70 (-1.97%)
PAEL 25.30 Decreased By ▼ -0.09 (-0.35%)
PIBTL 6.64 Decreased By ▼ -0.05 (-0.75%)
PPL 119.33 Decreased By ▼ -1.67 (-1.38%)
PRL 26.36 Decreased By ▼ -0.23 (-0.86%)
PTC 13.79 Decreased By ▼ -0.31 (-2.2%)
SEARL 56.99 Decreased By ▼ -0.31 (-0.54%)
SNGP 66.90 Decreased By ▼ -1.10 (-1.62%)
SSGC 10.31 Decreased By ▼ -0.11 (-1.06%)
TELE 8.34 Decreased By ▼ -0.11 (-1.3%)
TPLP 10.88 Decreased By ▼ -0.10 (-0.91%)
TRG 62.89 Decreased By ▼ -0.45 (-0.71%)
UNITY 27.00 Decreased By ▼ -0.05 (-0.18%)
WTL 1.36 Decreased By ▼ -0.02 (-1.45%)
BR100 7,917 Decreased By -24.1 (-0.3%)
BR30 25,407 Decreased By -240.9 (-0.94%)
KSE100 75,368 Decreased By -149.2 (-0.2%)
KSE30 24,197 Decreased By -80.4 (-0.33%)

PRAGUE: The Hungarian forint should gain the most among central Europe's currencies over the next 12 months with a near 4% rise, a Reuters poll showed, as the region looks to return to an interrupted firming trend.

Central European currencies have been knocked off an appreciation path over the past month, with data showing the deep economic hole the region has to climb out of amid the coronavirus pandemic and, in Hungary's case, the central bank loosening policy.

An Aug. 28-Sept. 3 Reuters poll of 32 analysts showed a return to firming would likely be uneven for most currencies as some weakening was expected in the coming months.

Second-quarter gross domestic product in Hungary declined 13.6% year-on-year, the steepest fall in the region. The data, and renewed bond purchases by the central bank, pushed the forint to a nearly 5-month low of 359.05 to the euro this week.

According to the median forecast in the poll, the forint was seen firming to 345.00 to the euro, a gain of 3.9% over Wednesday's close of 358.30. Gergely Suppan, senior economist at Magyar Takarek, said signs of an expected economic recovery in the rest of this year could turn the forint's course.

"I consider the forint's weakening to be excessive," he said. The Czech crown and Polish zloty were both seen firming 1.5% and 1.2% respectively. The crown was seen at 25.93 to the euro in 12 months and the zloty at 4.364 - both a touch weaker than a poll a month ago.

Both currencies, like the forint, were not expected to regain enough to hit pre-coronavirus levels in the next year. In Romania, the leu was expected to weaken 1.0% to 4.89 per euro as political worries continue to weigh.

Comments

Comments are closed.