Forint unchanged on interbank forex market
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[April 16, 2007]

Forint unchanged on interbank forex market

(Hungarian News Agency Via Thomson Dialog NewsEdge) Budapest, April 16, 2007 (MTI-ECONEWS) - The forint was trading at 245.20/30 to the forint, or at 13.14pc on the strong side of its +/-15pc intervention band, late on Monday, practically unchanged from 245.30/35 on Friday.



The forint traded between 244.85 and 245.50 to the euro during the session, dealers reported moderate turnover of around EUR 480m. Most other emerging market currencies, including the Turkish lira and the South African rand, also stagnated while the Polish zloty firmed.

The forint was trading at 180.95/181.05 to the dollar late on Monday, strengthening from 181.20/30 on Friday.



On the forint market, O/N rates rose 20bp to 7.50/70pc, still well under the 8.00pc central bank base rate. Liquidity will narrow on the market with VAT payments due on the 20th, traders noted.

On the secondary market for government securities, yields for a few terms moved 1-3pb, but many remained unchanged.

The Government Debt Management Agency will offer three-month, six- and 12-month discount T-bills, of HUF 30bn, HUF 30bn and HUF 35bn, respectively, for auction this week.

Copyright 2007 Hungarian News Agency Corporation. Source: Financial Times Information Limited.

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