Slight Recovery for the Forint

Slight Recovery for the Forint

After hitting an all time low last Thursday of 327.62 against the euro the Hungarian forint has made a slight recovery to 312.72, thanks mainly to the effect the announcement from the European Central Bank that an extended asset purchase program would be launched had on the euro falling against the dollar.

The quantitative easing program worth at least 1.1 trillion euros ($1.3 trillion) should boost the euro area’s inflation rate by 0.4% this year and 0.3% in 2016.