Hungarian forint steadies after sharp drop amid US‑Iran tensions

The Hungarian forint experienced significant volatility on Wednesday as the United States launched new air strikes against Iran, heightening geopolitical risk in the Hormuz Strait. The euro rose above 359 forints, pushing the forint to a low of 360.26 per euro, while the dollar fell to 315.28 forints and the Swiss franc to 390.61. By Thursday morning the forint had partially recovered, with the euro trading at 356.47 forints and the dollar at 311.58.

The escalation also lifted Brent crude oil prices to $78.96 per barrel, reinforcing pressure on emerging‑market currencies. Despite the turbulence, Hungarian equity markets slipped modestly, with the BUX index closing 1.26% higher at 29,872 points, while domestic budget data showing a surplus did not prevent the currency’s decline. By Friday the forint regained strength against major currencies, reflecting a short‑term market correction.

These movements illustrate how international conflicts can swiftly impact Central European exchange rates and domestic financial markets.