Forint headed for monthly decline amid rate cut

Source: Bloomberg
© Scanpix/FP
The Hungary's currency headed for a monthly decline for the first time in four months after the nation's central bank revealed that it would continue interest rate cuts and the government intends to phase out forex loans. The Forint fell 0.2% to 299.78 per Euro at 1:07 p.m. Budapest time, declining for the seventh consecutive day and accumulating the loss in July to 1.6%.
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