Hungarian Forint Declines on Asian Bearish Markets

The Hungarian currency declined together following most of Eastern European countries currencies, as a negative performance in Asian stock markets declined attractiveness for riskier assets, spurring demand for safety in dollar and yen priced assets.
Several Eastern European currencies declined today like the Polish zloty and the Russian ruble, mostly influenced by an increase in risk aversion regarding the future of the world economy, since evidences of a complete recovery are still lacking in virtually all economic regions throughout the world. The Hungarian forint also dropped, since Hungary is facing one of the worse recession among the European Union country members.
USD/HUF traded at 190.06 as of 10:44 GMT from an opening rate of 189.30 yesterday.

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