Trading time (UK time) 10:00 PM Sunday - 10:00 PM Friday
* Only if Margin Level > 100%
The spreads provided are a reflection of the time-weighted average from 09:00AM - 21:00 PM (GMT) for the period of 01/8/2019 – 25/8/2019. Though TNXTrade attempts to provide competitive spreads during all trading hours, clients should note that these may vary and are susceptible to underlying market conditions. The above is provided for indicative purposes only. Clients are advised to check important news announcements on our Economic Calendar, which may result in the widening of spreads, amongst other instances.
The above spreads are applicable under normal forex trading conditions. TNXTrade has the right to amend the above spreads according to market conditions as per the 'Terms and Conditions of Business'.
Like most European currency crosses, the EUR/HUF combination is well suited to investors looking to diversify their portfolios beyond the four majors. Driven by the correlation between two major economies - Hungary and the Eurozone – the relationship between the Hungarian forint and the Euro tends to be relatively predictable. If you’re a trader making your first foray into more exotic combinations, the EUR/HUF pair could be ideal for you.
In 2001, the Hungarian forint was tied to the Euro, whose corridor was within the limit of EUR/HUF 240.01-324.71 and it was clear that until 2008 it wouldn’t reach either the upper or the lower limit.
Already in 2008, the National Bank of Hungary refused to bind the forint in order to make the national currency exchange rate stronger and reduce inflation as well (the strongest inflation in Hungary in 1946 was about 400% per day). The main factors that may affect the exchange rate of EUR/HUF is the situation in the EU and in Hungary itself.
If you are interested in trading the EUR/HUF, contact TNXTrade today to open trading account in several minutes.
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