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Hungarian Central Bank Pumps Extra Liquidity into Market as Forint, Stocks Get Trounced

2020. március 17.

BNE IntelliNews

The Hungarian forint plunged to record lows against the euro on March 16 with a huge spike in the early afternoon to touch 348 after emergency measures were unveiled by the central bank. The EUR/HUF exchange rate later retreated to 343.

The Hungarian National Bank (MNB) requested a moratorium on repayments for on corporate loans to ease the pain of firms hit by the coronavirus. It also plans to expand the range of collateral. Domestic banks currently have outstanding corporate loan stock of HUF8.3 trillion (€24.4bn), including HUF3.6 trillion for large companies. More...