Trading symbol EURHUF is an exotic currency pair, where the euro represents base currency, and the Hungarian Forint — quoted. The quote of the financial instrument EURHUF shows how many Hungarian Forints it is necessary to buy one euro. The pair differs by stability, the greatest activity is observed in working hours of the European exchanges. This trading symbol enjoys special popularity at experienced players of the Forex market.
The EURHUF quote is influenced by a difference between interest rates of the European Central Bank and Hungarian National Bank, the relation of each of currencies to US dollar, and also the main economic and geopolitical data from the United States and the EU, including an interest rate realignment, data on GDP, the level of employment and inflation. In the Hungarian territory, many foreign companies conduct the business activity, that is why the foreign equity has a huge impact on the economy of Hungary.
The economy of Hungary is supported by the activity of chemical and metallurgical industries, and also an agrarian sector, including wine making and gardening. The most part of export-import transactions of Hungary are carried out with the participation of EU countries and the Russian Federation, therefore when forecasting price maneuvers of EURHUF trading instrument, it is worth to pay attention to key economic factors of the main partner countries.