The Hungarian forint recorded a sharp rise against the US dollar and the euro, as investors expect an economic stimulus after the election victory of Peter Magyar, reports Reuters.
The value of the forint increased by about two percent, reaching a level of 367.67 against the euro in weaker Asian trading, while against the dollar it strengthened by 1.7 percent, to 314.04, which represents its highest level in more than four years.
Ahead of the election, investors have already started to increase investments in Hungarian stocks, bonds and currency, expecting that the pro-European course of the new government could lead to the unfreezing of around 18 billion euros of funds from the European Union.
