The Hungarian forint dropped sharply against the euro and
dollar toward the end of last week. Monday, it hovered near 300 forints versus
the euro, the lowest value in about seven months. The weakness is an issue for
households, businesses and the government here, which have borrowed heavily in
foreign currencies.
"Nouriel Roubini, one of the most influential financial
analysts in the world, recommended taking a forint short position in an
investment note," which was published Jan. 3, the ministry said in a
statement Monday. "It seems that speculators have taken Mr. Roubini's
advice and started their attack on the forint."
Nouriel Roubini's firm is being blamed for the forint's
decline, but the company said the economy minister's remarks are the main
reason…..
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