2 billion HUF, ie one billion - worth two hundred million
forints.
The decrease was principally attributable to the devaluation of the Hungarian
forint against the euro and the renegotiation and retention of certain major contracts.
HTCC has included certain non-GAAP financial measures in Hungarian
forints and euros, including Pro-forma Adjusted EBITDA, in this press release.
Predicting a 'run' on the currency, analysts at the bank said, 'Based on the weak fundamentals and unpredictable policies our base case is that the
forint will fall further.
These growth rates in Hungarian
forint terms can be seen in the reported U.
5 million for the six months ended June 30, 2000, reflects the appreciation of the Hungarian
forint against the euro, of approximately 8% between January 1, 2001 and June 30, 2001.
DE) for weakening the Hungarian
forint significantly on October 15 2008, when Hungary was hit hardest by the global credit crunch.
This 10% devaluation of the Hungarian
forint against the U.
The new
forint amount, which is based on a EUR50,000 limit, was calculated at a
forint-euro exchange rate of HUF300.
These growth rates in Hungarian
forint terms are not readily apparent in the reported U.
It is expected that Hungary's central bank may increase the benchmark interest rate in order to halt the slide of the
forint after prime minister, Ferenc Gyurcsany, said he would resign soon.
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